Max paid $5,000 of tuition for him to attend a private university this year.How much of this payment can Mason deduct as a qualifying education expense if he files single and reports modified AGI of $60,000?
A)$5,000
B)$4,000
C)$2,000
D)$0
E)None of thesE.The deduction is limited to $4,000 for single taxpayers with modified AGI of $65,000 or less.

Question

Quizplus · Accepted Answer

The deduction for qualifying education expenses is limited to $4,000 for single taxpayers with modified AGI of $60,000 or less, so Mason can deduct $4,000 of the tuition payment.

Max Paid $5,000 of Tuition for Him to Attend a Private