Which Is Not True About the Higher Education Expense Deduction

question 4

Multiple Choice

Which is not true about the higher education expense deduction?

• A)Taxpayers are allowed an "above-the-line" deduction.
• B)The total amount of qualified tuition and related expenses must be reduced by the excludable interest from higher education savings bonds.
• C)The deduction is allowed for qualified expenses paid during the tax year for an academic term beginning within the first 3 months of the next tax year.
• D)The deduction is always $4,000.

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