Question

The definition of qualifying expenses is more restrictive for the qualified educational expense deduction than it is for the education loan interest expense deduction.

a. True
b. False

Answer 1

The statement is false; the qualifying expenses for the education loan interest deduction is typically broader than for the qualified educational expense deduction, including costs like room and board. The correct answer is option b.

Step-by-step explanation:

The assertion that the definition of qualifying expenses is more restrictive for the qualified educational expense deduction than it is for the education loan interest expense deduction is false. The education loan interest deduction typically has broader qualifying rules in terms of the expenses it covers. For instance, expenses such as room and board may be included for the education loan interest deduction but not for the qualified education expense deduction which focuses more on tuition and related academic fees.