Dana and Larry are married and live in Texas. Dana earns a salary of $45,000 and Larry has $25,000 of rental income from his separate property. If Dana and Larry file separate returns, what amount of income must Larry report?

	a.	$47,500
	b.	$0
	c.	None of the above
	d.	$25,000

For married taxpayers filing joint return in 2020, at what AGI level does the phase-out limit for contributions to Qualified Tuition Programs start?

	a.	$95,000 to $110,000
	b.	$190,000 to $220,000
	c.	$220,000 to $250,000
	d.	$110,000 to $190,000

Kelly receives a $40,000 scholarship to Florida International University. She uses $30,000 on tuition and books, $5,000 for used car, and $5,000 for rent while at university. Kelly will recognize ____________ gross income.

	a.	$30,000
	b.	$5,000
	c.	$10,000
	d.	$0

Sylvia has a flower shop as sole proprietorship. In their 1040 tax return of 2020 she must include the followings schedule:

	a.	Schedules SE and A
	b.	Schedules C and SE
	c.	Schedules 1 and SE
	d.	Schedules C and 1

To be deductible an expense in a business the expense should be:

	a.	Reasonable, ordinary, and necessary
	b.	The expense must have an expectative
	c.	Any expense incurs or pay by the business
	d.	Business purpose only