ACC 401 Week 2 Quiz ( UOP ) FOR MORE CLASSES VISIT www . acc401assist . com
ACC 401 Week 2 Quiz ( UOP ) FOR MORE CLASSES VISIT www . acc401assist . com
QUIZ 2
1 ) Henry graduated from university of Maryland in 2006 , in 2009 , to take advantage of lower interest rates , he refinanced his qualified education loans with another loan . He is not a dependent on another person ’ s tax return . What is the maximum deduction available to him for the $ 3,200 he paid for educational loan interest in 2009 ?
2 ) Which of the following interest expenses incurred by Amanda is treated as personal interest expense and , therefore not deductible as an itemized deduction ?
3 ) Which of the following miscellaneous itemized deduction is not subject to the 2 % of adjusted gross income limitation ?
4 ) For the deduction of self-employment taxes , which of the following statements is correct ?
5 ) Paola is a freshman in the UC-Davis degree program in veterinary medicine . In 2008 , Paola paid $ 3,000 in tuition , $ 500 for books , and $ 250 for supplies for class . Paola also paid room and board of $ 3,500 . What is the total qualifying education expense for education loan for Paola in 2007 ?