The definition of qualifying expenses is more restrictive for the qualified educational expense deduction than it is for the education loan interest expense deduction.

Question

Quizplus · Accepted Answer

Qualifying expenses for the qualified educational expense deduction only include tuition, fees, and books, whereas qualifying expenses for the education loan interest expense deduction can also include room and board, transportation, and other necessary expenses related to attending college or other eligible educational institution.

The Definition of Qualifying Expenses Is More Restrictive for the Qualified