In 2015, Chara incurred a loan to pay for qualified higher education expenses for her 20-year-old daughter
Question:
In 2015, Chara incurred a loan to pay for qualified higher education expenses for her 20-year-old daughter who was a dependent. In 2019, 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 2019. Without regard to any modified adjusted gross income limitations, is Chara permitted to deduct interest on the loan?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Yes Higher education loans must ...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
2+ Reviews
10+ Question Solved
Related Book For 
Fundamentals Of Taxation 2020 Edition
ISBN: 9781260483147
13th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
Question Posted:
