1) Tony and Lisa are married and file a joint return. They have two children, ages 2 and 4. Their combined AGI is $86,300. Tony's earned income is $50,000; Lisa's is $36,300. They incur $6,200 in child care expenses ($3100 per child) to enable them to be employed during the current year. Their child and dependent care credit is

		$6,200.
		$1,240.
		$1,200.
		$6,000.

2) Connie has AGI of $90,000 and owns rental property generating a $27,000 loss. She actively manages the property. Her deductible loss is

		$0.
		$13,500.
		$25,000.
		$27,000.