scorm/aiccaspx Repercussions of the Tax Cuts and Jobs Act on Individual Filers E

Question

scorm/aiccaspx Repercussions of the Tax Cuts and Jobs Act on Individual Filers Exam Question 19 of 20 Select the best answer. Which of the following statements is correct with respect to the exclusion of a stud institution under IRC 5108? ent's loan by a qualified O A. TC&JA; eliminates the exclusion if a student is totally and permanently disabled. O B. TC&JA; makes the forgiveness amount subject to wage withholding rules. O C. TC8JA makes the forgiveness amount excludible if the student dies. O D. TC&JA; makes the repayment amount received under the National Health Service Corps repayment program includible in gross income. Submit Answers

Explanation / Answer

ANSWER: C

AMOUNT WILL NOT BE INCLUDED IN INCOME IF THE FOREGIVENESS OF LOAN IS DUE TO STUDENT IS PERMANANTLY DISABLED, OR STUDENT DIES, OR AMOUNT RECEIVED UNDER NATIONAL HEALTH SERVICE CORPS REPAYMENT PROGRAMME

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