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LO . 1 Osprey Corporation, a closely held corporation, has $ 1 0 0 , 0 0 0 of net active income, $ 2 5

LO.1 Osprey Corporation, a closely held corporation, has $100,000 of net active income, $25,000 of portfolio income, and a $120,000 loss from a passive activity. How much of the passive activity loss can Osprey deduct in the current year if it is a PSC? If it is not a PSC?

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