1. April, a calendar year taxpayer, is a 30% partner in Pawnee Partnership. For the fiscal year ending December 31, 2020, the partnership had $500,000 net income and April withdrew $100,000 in December of each year. What is April's gross income from the partnership for 2020?

		$150,000
		$90,000
		$100,000
		$20,000

2. The employees of MP Accounting Services are permitted to use the copy machine for personal purposes, provided the privilege is not abused. Ed is the president of a civic organization and uses the copier to make several copies of the organization's agenda for its meetings. The copies made during the year would have cost $150 at Office Depot.

		Ed must include $150 in his gross income.
		Ed may exclude the cost of the copies as a no-additional cost fringe benefit.
		Ed may exclude the cost of the copies only if the organization is a client of Mauve.
		Ed may exclude the cost of the copies as a de minimis fringe benefit.

3. Steve has a home office for his sole proprietorship. His net income before considering the home office deduction is $33,000. His office represents 9% of the total square footage of his home. If he has the following home expenses, what is his deduction for home office in 2020 if he uses the regular method?

Real estate taxes $1,500

Mortgage interest $5,500

Utilities $2,400

		$846
		772
		$630
		$1,000

4. Dollar General decided to build a new building in Mayville in order to operate their business. Which MACRS asset category will the building be depreciated in?

		27.5 years
		39 years
		31.5 years
		20 years