Question
from college last year and is in the process of repaying her student loan. During the year, she made total payments on the loan of
from college last year and is in the process of repaying her student loan. During the year, she made total payments on the loan of $6,000, comprised of $5,000 in principal and $1,000 in interest. With regard to Emily's income tax return, which of the following statements is TRUE? Emily can claim a federal non-refundable tax credit for her $6,000. Emily can claim a federal non-refundable tax credit for $1,000. Emily is not eligible to claim a federal non-refundable tax credit associated with her student loan. Emily can claim a federal non-refundable tax credit for $5,000. Jay
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