Answer the following Essential Question: Professor Terrence, from the English department at BMCC, incurred $350...
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Accounting
Answer the following Essential Question: Professor Terrence, from the English department at BMCC, incurred $350 dollars in educational expenses during 2019. He purchased supplies that were used by his students during the academic year. Please advice Prof. Terrence if his educational expenses qualifies as a deduction for Adjusted Gross Income (AGI)?
Guiding Hints/Questions:
- who qualifies for educational expenses deductions?
- what is the limitations, if any?
- see instructions for Form 1040
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