For 2019 through 2022, Tanisha, who is single, borrowed a total of $25,000 for higher education expenses on qualified education loans. In 2023, while still living at home and being claimed by her parents as a dependent, she began making payments on the loan. The first year's interest on the loan was reported as $750, and her AGI for the year was less than $ 75,000. The amount thatTanisha can claim on her 2023 tax return isa. $750.b. $540.c. $ 425.d. $0
For 2019 through 2022, Tanisha, who is single, borrowed a total of $25,000 for higher education expenses on qualified education loans. In 2023, while still living at home and being claimed by her parents as a dependent, she began making payments on the loan. The first year's interest on the loan was reported as $750, and her AGI for the year was less than $ 75,000. The amount thatTanisha can claim on her 2023 tax return isa. $750.b. $540.c. $ 425.d. $0
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 25MCQ
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