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Please show work and give explanation. Thank you! White Corporation, a closely held personal service corporation, has $150,000 of passive activity losses, $120,000 of active

image text in transcribed Please show work and give explanation. Thank you!

White Corporation, a closely held personal service corporation, has $150,000 of passive activity losses, $120,000 of active business income, and $30,000 of portfolio income. How much of the passive activity loss can White Corporation deduct

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