Eligible Educators Can Deduct Up to $250 of Qualified Educational

question 86

True/False

Eligible educators can deduct up to $250 of qualified educational expenses as an above-the-line deduction.

---

Definitions:

Temporary

Pertaining to an employee, position, or status that is intended for a limited time period, often with an end date in mind.

Permanent

Describes assets or records that are intended to be held or used on a long-term basis and not expected to be sold or otherwise converted into cash within a year.

General Journal

A journal used to record all types of accounting transactions with detailed explanations.