The passive loss rules apply to noncorporate taxpayers and to personal service corporations but not to closely held C corporations.

Name: The passive loss rules apply to noncorporate taxpayers and to personal service corporations but not to closely held C corporations.
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Question

Quizplus · Accepted Answer

The passive loss rules do apply to closely held C corporations, although with some exceptions and limitations compared to noncorporate taxpayers and personal service corporations.

The Passive Loss Rules Apply to Noncorporate Taxpayers and to Personal