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  3. 5. peach corporation had $200,000 of net active in

5. Peach Corporation had $200,000 of net active income, $45,000 of portfolio income, and a...

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Accounting

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5. Peach Corporation had $200,000 of net active income, $45,000 of portfolio income, and a $230,000 passive activity loss during the current year. If Peach is a PSC, it can deduct $45,000 of the passive activity loss in the year. a. True b. False 6. The accumulated earnings and personal holding company taxes are designed to prevent the accumulation of earnings within a corporation. a. True b. False

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