Sage, Inc., a closely held corporation that is not a PSC, has a $110,000 passive loss, $90,000 of active income, and $25,000 of portfolio income during the year. How much of the passive loss can Sage deduct in the current year?
A) $0.
B) $25,000.
C) $90,000.
D) $110,000.
E) None of the above.

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The Answer of Sage, Inc., a closely held corporation that is not a PSC, has a $110,000 passive loss, $90,000 of active income, and $25,000 of portfolio income during the year. How much of the passive loss can Sage deduct in the current year?
A) $0.
B) $25,000.
C) $90,000.
D) $110,000.
E) None of the above.

Sage, Inc, a Closely Held Corporation That Is Not a PSC