Is the full cost of this education deductible to her? If so, what limitations are imposed on the deduction?
Is the full cost of this education deductible to her? If so, what limitations are imposed on the deduction?
Chapter3: Business Income And Expenses
Section: Chapter Questions
Problem 14MCQ
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Question
Jamie has an undergraduate degree in finance and is employed full-time by a bank. She is taking courses at a local university leading to an MBA degree.
Is the full cost of this education deductible to her?
If so, what limitations are imposed on the deduction?
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