Gabe owns and operates Lacrosse Gear USA which is a closely held C corporation that is not a personal service corporation. Lacrosse Gear USA has $60,000 of passive losses, $30,000 of active business income, and $15,000 of portfolio income. How much of the passive loss may Lacrosse Gear USA deduct in the current year?

A) $60,000.
B) $30,000.
C) $45,000.
D) $15,000.
E) $0.

Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5 percent is to be maintained, this means that this year's productivity will have to be:

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.

Acollege registrar's office requires you to first visit with one of three advisors and then with one of two financial professionals. this system best described as which of the following? a. single server, single phase systemb. multiple server multiphase systemc. multiple server, cross phase systemd. single server, multiphase systeme. multiple server, single phase system