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Grebe Corporation, a closely held corporation that is not a PSC, had $75,000 of net active income, $60,000 of portfolio income, and a $105,000 passive
Grebe Corporation, a closely held corporation that is not a PSC, had $75,000 of net active income, $60,000 of portfolio income, and a $105,000 passive activity loss during the current year. How much of the passive activity loss can Grebe deduct in the current year?
a. $75,000
b. $105,000
c. $0
d. $60,000
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