Passive activity loss limitation rules do not apply to
I.Publicly-held corporations.
II.Closely -held corporations.

A)Only statement I is correct.
B)Only statement II is correct.
C)Both statements are correct.
D)Neither statement is correct.

Question

Passive activity loss limitation rules do not apply to
I.Publicly-held corporations.
II.Closely -held corporations.
​
A)Only statement I is correct.
B)Only statement II is correct.
C)Both statements are correct.
D)Neither statement is correct.

Quizplus · Accepted Answer

Passive activity loss limitation rules do not apply to publicly-held corporations, but they do apply to closely-held corporations.

Passive Activity Loss Limitation Rules Do Not Apply to