related to his MBA program. He had unreimbursed education expenses of $16,000 in 2021. What is the tax treatment of the unreimbursed educatio costs?
related to his MBA program. He had unreimbursed education expenses of $16,000 in 2021. What is the tax treatment of the unreimbursed educatio costs?
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 15P
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Transcribed Image Text:Jack paid costs to Emory University
related to his MBA program. He had
unreimbursed education expenses of
$16,000 in 2021. What is the tax
treatment of the unreimbursed education
costs?
Deduction from AGI on Schedule A
Eligible for the Lifetime Learning
Credit.
Deduction for AGI as a business
expense
Not deductible, because the tuition
and fees deduction was repealed in
the Taxpayer Certainty and
Disaster Tax Relief Act of 2020 for
tax years beginning after 2020.
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