In 2014, Chara incurred a loan to pay for qualified higher education expenses for her 20-year-old daughter
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In 2014, Chara incurred a loan to pay for qualified higher education expenses for her 20-year-old daughter who was a dependent. In 2018, her granddaughter graduated from college, moved away to start a new job, and ceased to be a dependent on Chara’s tax return. Chara started making payments on the loan in 2018. Without regard to any modified adjusted gross income limitations, is Chara permitted to deduct interest on the loan?
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Related Book For
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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