Diane, a self-employed single individual, owns a party rental business. Related to the costs incurred in running her business, indicate which of the following statements are correct.

Note: more than one statement may be correct.

	If Diane has a loss of $200,000 from her business, but her basis in the business is only $150,000, she can only deduct $150,000.
	Diane may deduct the employer portion of her self-employment tax as a for AGI deduction.
	Diane spent $10,000 on entertaining customers during the year. An ordinary and necessary amount would have been $8,000. Diane can only deduct $8,000.
	If Diane earns $100,000 in business income, this will not qualify for the qualified business income deduction.