During the current year, Violet, Inc., a closely held corporation (not a PSC), has $130,000 of passive loss, $90,000 of active business income, and $70,000 of portfolio income. How much is Violet's taxable income for the current year?
A)$30,000.
B)$70,000.
C)$90,000.
D)$160,000.
E)None of the above.

Question

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The Answer of During the current year, Violet, Inc., a closely held corporation (not a PSC), has $130,000 of passive loss, $90,000 of active business income, and $70,000 of portfolio income. How much is Violet's taxable income for the current year?
A)$30,000.
B)$70,000.
C)$90,000.
D)$160,000.
E)None of the above.

During the Current Year, Violet, Inc