Max paid $5,000 of tuition for him to attend a private university this year. How much of this payment can Mason deduct as a qualifying education expense if he files single and reports modified AGI of $60,000?

Question

Quizplus · Accepted Answer

The deduction for qualifying education expenses is limited to $4,000 for single taxpayers with modified AGI of $65,000 or less. Since Mason's modified AGI is $60,000, he can deduct up to $4,000 of his tuition payment as a qualifying education expense. Therefore, the correct answer is choice B ($4,000).

Max Paid $5,000 of Tuition for Him to Attend a Private