Carolyn Is Single and Has a College Degree in Finance

question 143

Multiple Choice

Carolyn is single and has a college degree in finance.She is employed as a loan officer at a bank; her yearly AGI approximates $50,000.During the year, she enrolled in a weekend MBA program and incurred the following nonreimbursed expenses: $3,900 (tuition) , $300 (books) , $200 (other school supplies) , and $200 (transportation to and from campus) .Disregarding the 2%-of-AGI limitation, as to the MBA program, Carolyn has a:

• A)Deduction for and deduction from AGI of $0.
• B)Deduction for AGI of $4,000 and deduction from AGI of $600.
• C)Deduction for AGI of $3,900 and deduction from AGI of $700.
• D)Deduction for AGI of $4,100 and deduction from AGI of $500.
• E)None of the above.

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Definitions:

Expert

An individual with comprehensive and authoritative knowledge of or skill in a particular area.

Passive Voice

The passive voice is a grammatical construction where the object of an action becomes the subject of the sentence, emphasizing the action or effect rather than the doer.

Poor Organization

A lack of structured arrangement or efficiency in managing tasks, resources, or structures, leading to chaos or inefficiency.

Transition Words

Words or phrases that provide a connection between ideas, sentences, and paragraphs, facilitating smooth reading or listening.