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Kelly has just given birth to her first baby at age 37; her best friend,Olivia,age 26,just gave birth to her first child.Which of the following is likely to be TRUE for these new mothers?
Qualified Education Loans
These are loans obtained solely to pay for educational expenses that are qualified and necessary, including tuition, room, board, and books.
Deduction
An amount that is subtracted from an individual's gross income, decreasing the amount of taxable income.
AGI Deduction
Deductions from gross income that occur before calculating the taxable income, specifically affecting the adjusted gross income on a tax return.
Health Insurance
A type of insurance coverage that typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.
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