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Tangible Personal Property
Physical items owned by an individual or business that can be seen, touched, and moved, excluding real estate.
Exception
A provision in tax law or regulation that allows individuals or entities to be exempt from the usual application of a rule under specified conditions.
Student Loan Interest
The cost of borrowing money for education, which can be claimed as a deduction to reduce taxable income, subject to certain limits.
Full-time
Typically refers to employment or student status that meets a minimum number of hours defined by an employer or educational institution.
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