1. A way to defer income taxes to later years is to:

a. contribute to individual retirement accounts

b. contribute to defined-contribution retirement plans

c. defer income to a later year

d. all of these

2. Certain real estate losses are deductible against ordinary taxable income up to a limit of $25,000 when the:

a. investment is in a limited partnership

b. taxpayer has an adjusted gross income of $150,000 or less and the taxpayer actively participates in the management of the property

c. taxpayer actively participates in the management of the investment

d. taxpayer has an adjusted gross income of $150,000 or less