This Fall,Josh Paid $5,000 for His Tuition and Fees at State

question 112

Multiple Choice

This fall,Josh paid $5,000 for his tuition and fees at State University (a qualified education institution) .Assume that Josh is Marsha and Jeff's son and that Marsha and Jeff claim Josh as a dependent.Marsha and Jeff's modified AGI is $100,000.How much of Josh's $5,000 tuition and fees payments can Marsha and Jeff deduct this year? (Assume the 2016 rules apply for purposes of the qualified education expense deduction.)

• A) Marsha and Jeff can deduct $5,000 for AGI.
• B) Marsha and Jeff can deduct $4,000 for AGI.
• C) Marsha and Jeff can deduct $2,500 for AGI.
• D) Marsha and Jeff can deduct $2,000 for AGI.
• E) None - the tuition is not deductible by Marsha and Jeff.

---

Definitions:

Sports Jargon

Specialized language or terminology used within the context of sports, often incomprehensible to those outside the field.

Play Hardball

An idiom suggesting a serious, uncompromising, or aggressive approach to negotiation or confrontation.

Throw In The Towel

An idiomatic expression meaning to give up or admit defeat in a competition or endeavor.

Coined Term

A newly created word or phrase that has been invented to describe a new concept or idea.