What is required for the employer's payment of a student's loan to be tax-free to the student?Payment must not exceed $2,500Payment must be only for loan principalPayment must be only for loan interestThe student employee must not have the option to receive the funds as taxable income

What is required for the employer's payment of a student's loan to be tax-free to the student?Payment must not exceed $2,500Payment must be only for loan principalPayment must be only for loan interestThe student employee must not have the option to receive the funds as taxable income

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 51P

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What is required for the employer's payment of a student's loan to be tax - free to the student?Payment must not exceed $2,500Payment must be only for loan principal Payment must be only for
loan interestThe student employee must not have the option to receive the funds as taxable income

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