[单选题]
Which of the following statements regarding an individual's suspended passive activity losses is correct?
A .A maximum of 50% of the suspended losses can be used each year when an election is made to forgo the carry-back period.
B .USD3,000 of suspended losses can be utilized each year against portfolio income.
C .Suspended losses can be carried forward, but not back, until utilized.
D .Suspended losses must be carried back three years and forward seven years.
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