Question
In 2015 Chara incurred a loan to pay for qualified higher education expenses for her 20-year-old granddaughter, who was a dependent. In 2019 her granddaughter
In 2015 Chara incurred a loan to pay for qualified higher education expenses for her 20-year-old granddaughter, 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 Charas tax return. Chara started making payments on the loan in 2019. Without regard to any modified AGI limitations, is Chara permitted to deduct interest on the loan?
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Advanced Accounting And Auditing Theory And Practice
Authors: Prof. R.B. Patel
1st Edition
8188730882, 978-8188730889
