g quess. (120 points total) 1. Shaunda has AGI of $90,000 and owns rental property generating a $27,000 loss. She actively manages the property. Her suspended passive loss is A) $2000 B) $13,500. C) $25,000. D) $27,000. 2. Justin has AGI of $120,000 before considering his $30,000 loss from rental property, which he owns and actively manages. How much of the rental loss should Justin deduct? A) $5,000 B) $15,000 C) $20,000 D) $30,000 3. Brandon, a single taxpayer, had a loss of $38,000 from a rental real estate activity in which he actively participated. He also had $26,000 of income from another rental real estate activity in which he actively participated. He acquired both investments in the current year. If Brandon has no other passive income or losses and has adjusted gross income of $84,000 before considering passive activities, how much loss from rental activities can he use to offset his nonpassive income? A) $11,000 B) $24,000 C) $25,000 D) $12,000 4. A fire totally destroyed office equipment which Monica uses in her business. The equipment had an adjusted basis of $15,000 and a FMV of $10,000 before the fire. Monica's AGI for the year is $60,000. Monica does not have insurance on the destroyed assets. How much is Monica's deductible casualty loss A) $5,900 B) $12,000 C) $15,000 D) $20,000 5. Elise has net income from self-employment of 150,000. For 2017, the maximum taxable earnings amount for Social Security taxes is $127,200. How much the self-employment tax does Elise deduct o Form 1040? A) $12,814 B) S13,102 C) S18,364 D) $19,790