Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Adjustments to Income Workout

Skills Workout

Certification Warm Up: Drill & Practice

  1. Eric received a Form 1098-E with student loan interest His loan was for a qualified education expenses with an eligible institution. His filing status is Single. Can he claim the deduction?
  2. Is it true that taxpayers may subtract the deductible portion of their self-employment tax from their income?
  3. Joe, age 35, made an excess contribution of $1,500, which he withdrew by the due date of his return. At the same time, he also withdrew the $75 income earned on the $1,500. Does Joe have to pay an additional tax on the on the early distribution?