[ANSWERED] 1. a. For purposes of the passive loss rules, what is a closely held C corporation? b. In what way..

1. a. For purposes of the passive loss rules, what is a
closely held C corporation? b. In what way do the passive loss rules differ
from the regular passive loss rules when applied to closely held C corpora
tions?
2. Why is it important to identify exactly what constitutes
an activity for purposes of the passive activity rules?