Olde Town,Inc. ,a U.S.corporation,earns $100,000 in passive foreign-source income and suffers a net loss of $60,000 in the general basket.What is the numerator of Olde Town's FTC limitation formula for the passive basket in the current year?
A) $0
B) $40,000
C) $60,000
D) $100,000
Correct Answer:
Verified
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