Which of the Following Is a True Statement

question 65

Multiple Choice

Which of the following is a true statement?

• A)For purposes of the deduction for educational interest, an educational loan must be used to pay tuition to any type of school.
• B)The maximum deduction for educational interest is $5,000 for married taxpayers filing jointly.
• C)Self-employed taxpayers are not allowed to deduct health care premiums if the taxpayer is eligible to participate in their spouse's employer-provided health plan.
• D)Self-employment taxes paid by self-employed taxpayers are deductible as business expenses.
• E)All of the above are truE.Simply being eligible to participate in a spouse's employer-provided health plan precludes the deduction for health care premiums for self-employed taxpayers.

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Definitions:

Federal Funding

Financial support provided by the federal government to support a wide range of services and projects, including education, transport, and healthcare.

Desegregation

The process of eliminating racial segregation, typically referring to the legal and social efforts to end the separation of different racial groups within a society.

National Defense Education Act

1958 law passed in reaction to America’s perceived inferiority in the space race; encouraged education in science and modern languages through student loans, university research grants, and aid to public schools.

Agricultural

Pertaining to farming or the cultivation of plants and animals to produce food, fiber, medicinal plants, and other products.