Elvis receives a $2,000 distribution from a CESA.On this date,the total balance is $30,000,with $12,000 representing earnings.If his qualified higher education expenses are $2,195,what amount can he exclude from gross income?
A) $0.
B) $800.
C) $1,200.
D) $2,000.
E) Some other amount.

Question

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The Answer of Elvis receives a $2,000 distribution from a CESA.On this date,the total balance is $30,000,with $12,000 representing earnings.If his qualified higher education expenses are $2,195,what amount can he exclude from gross income?
A) $0.
B) $800.
C) $1,200.
D) $2,000.
E) Some other amount.

Elvis Receives a $2,000 Distribution from a CESA