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Let's try something simpler.Bronze Corporation has $100,000 of active income, $55,000 of portfolio income, and a $55,000 passive activity loss. Under what circumstances is Bronze

Let's try something simpler.Bronze Corporation has $100,000 of active income, $55,000 of portfolio income, and a $55,000 passive activity loss. Under what circumstances is Bronze prohibited from deducting the loss? Allowed to deduct the loss?

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