Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest? Would they be higher or lower?

Question

Mariam Spence

Mathematics

8 June, 17:20

Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest? Would they be higher or lower?

+2

Answers (1)

Know the Answer?

Fisher Farrell · Answer 1

When you are able to claim a deduction such as student loan interest would taxable income would be lower and your tax liability would go higher. The liability would increase since a loan is a debt. Hope this answers the question. Have a nice day.