Marmaduke was in a combat zone from January 1 to April 15. During the year, the...

Marmaduke was in a combat zone from January 1 to April 15. During the year, the military paid $200 each month for her students loan. How much of that is taxable.

A $0

B $1200

C $1600

D $2400.

Expert Solution

Ans. A

ZERO

Private and federal student loans won't be considered taxable income because repayment is required. So the answer to this is 0 as no tax is levied on student studies loan

Rahul Sunny answered 2 years ago

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