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?