44. A taxpayer has a son who the taxpayer claims as a dependent and who attended college the past year while in college the son took out several qualifies student loan all of which were solely in his name and 2023 the taxpayer may interest payment for him a $1,256 to a bank A and 523 to a credit union additionally the taxpayer son made an interest payment of $453 to bank B is this how much the taxpayers able to duck on their 2023 US federal tax return. A. Since the loan is in the name of the dependent son only the taxpayer cannot deduct any other student loan interest payment in 2023. true or false B 1,179
44. A taxpayer has a son who the taxpayer claims as a dependent and who attended college the past year while in college the son took out several qualifies student loan all of which were solely in his name and 2023 the taxpayer may interest payment for him a $1,256 to a bank A and 523 to a credit union additionally the taxpayer son made an interest payment of $453 to bank B is this how much the taxpayers able to duck on their 2023 US federal tax return. A. Since the loan is in the name of the dependent son only the taxpayer cannot deduct any other student loan interest payment in 2023. true or false B 1,179
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 14DQ
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Question
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44. A taxpayer has a son who the taxpayer claims as a dependent and who attended college the past year while in college the son took out several qualifies student loan all of which were solely in his name and 2023 the taxpayer may interest payment for him a $1,256 to a bank A and 523 to a credit union additionally the taxpayer son made an interest payment of $453 to bank B is this how much the taxpayers able to duck on their 2023 US federal tax return.
A. Since the loan is in the name of the dependent son only the taxpayer cannot deduct any other student loan interest payment in 2023. true or false
B 1,179
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