Answered
Which of the following statements is not true regarding the education credits?
A) If a dependent pays for qualified expenses,the expenses are deemed paid by the taxpayer.
B) If a relative makes payments for qualified expenses directly to the institution on behalf of the student,the expenses are deemed paid by the student.
C) If a student receives a scholarship that is excluded from gross income,that amount should reduce qualified expenses.
D) Payments made using borrowed funds are not considered qualified expenses.
On Jul 08, 2024