Rachel Is Single and Has a College Degree in Finance

question 107

Multiple Choice

Rachel 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: $4,100 (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, Rachel has a:

• A)Deduction for and deduction from AGI of $0.
• B)Deduction for AGI of $4,000 and deduction from AGI of $800.
• C)Deduction for AGI of $4,000 and deduction from AGI of $700.
• D)Deduction for AGI of $4,100 and deduction from AGI of $700.
• E)None of these.

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