Jennie receives $12,000 (of which $2,000 is earnings) from a Qualified Tuition Program. She uses the funds to pay for new furnit

Question

aliya0001 [1]

3 years ago

7

Jennie receives $12,000 (of which $2,000 is earnings) from a Qualified Tuition Program. She uses the funds to pay for new furnit

ure for her apartment. What amount is taxable to Jennie

Business

1 answer:

Dafna1 [17] · Answer 1 · 2022-08-12T22:22:06+03:00

Answer: $2000

Explanation:

From the question, we are informed that Jennie receives $12,000 (of which $2,000 is earnings) from a Qualified Tuition Program and she uses the funds to pay for new furniture for her apartment.

The amount that is taxable to Jennie will be the amount of earnings she made who is $2000.