Problem 18-21 (Lo. 4) Indigo, Inc., a personal service corporation, incurs the following income and losses Active income Portfolio income Passive activity losses $325,000 49,000 333,000 If an amount is zero, enter "O". a. What amount of the passive activity losses can be offset against either the active income or the portfolio income? Therefore, Indigo's taxable income is Feedback Note: Assume for parts (b) and (c) that instead of being a personal service corporation, Indigo is a closely held C corporation. b. Indigo's taxable income is c. What would Indigo's taxable income be if the passive activity loss is only $320,000 rather than $333,000