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which of the following statements is true?a, a married couple must file jointly in order to...

which of the following statements is true?a, a married couple must file jointly in order to take either the student loan interest deduction or the tuition and fees deduction B, room and board expenses can be deducted under the tuition and fees deduction c there is no limit on the amount of qualified expenses that can be deducted d. there is no modified agi limitation on either the student loan interest deduction or the tuition and fees deduction

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Answer #1

Answer:

Correct answer is:

a. married couple must file jointly in order to take either the student loan interest deduction or the tuition and fees deduction

Explanation:

Student loan interest deduction or tuition fees deduction cannot be claimed married couple if they file tax return separately. Married couple must file jointly to claim either the student loan interest deduction or the tuition and fees deduction.

As such option a is correct.

Option b is incorrect since room and board expenses cannot be deducted under the tuition and fees deduction.

Option c is incorrect since there is a limit on the amount of qualified expenses that can be deducted.

Option d is incorrect there is modified AGI limitation and phase out on the student loan interest deduction and the tuition and fees deduction

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