Question 1 1 pts

Income allocated from a partnership interest appears on which schedule?

Group of answer choices

Schedule A

Schedule C

Schedule D

Schedule E

Flag this Question

Question 2 1 pts

On which schedule is income from a home business that is operated for profit recorded?

Group of answer choices

Schedule A

Schedule C

Schedule D

Schedule E

Flag this Question

Question 3 1 pts

Where on the full Form 1040 do deductions for AGI appear?

Group of answer choices

Page 1

Page 2

Page 3

Page 4

Flag this Question

Question 4 1 pts

Income from securities like stocks is categorized as what income grouping?

Group of answer choices

Business

Active

Passive

Portfolio

Flag this Question

Question 5 1 pts

On which schedule are real estate rental income and losses recorded?

Group of answer choices

Schedule B

Schedule C

Schedule D

Schedule E

Flag this Question

Question 6 1 pts

Hobby losses are reported on which schedule?

Group of answer choices

Schedule A

Schedule B

Schedule C

Schedule D

Flag this Question

Question 7 1 pts

Which of the following is not a capital asset?

Group of answer choices

property held primarily for resale

residential real estate

stocks

bonds

Flag this Question

Question 8 1 pts

Even though real estate rental income is passive by definition, how much may taxpayers deduct if they are real estate professionals?

Group of answer choices

unlimited deductions

no deductions

$20,000

$25,000

Flag this Question

Question 9 1 pts

Income from working a job is categorized as what income grouping?

Group of answer choices

Business

Active

Passive

Portfolio

Flag this Question

Question 10 1 pts

Real estate professionals must dedicate at least ________ hours of service to real estate activities in order to treat real estate investing as a business activity.

Group of answer choices

500

750

900

1000