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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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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