Krumm & Associates
Certified Public Accountants & Consultants



$100 Taxes
Personal Taxes

Q. Clarence College Boy was excited to be returning to college. What costs were not covered by financial aid, his parents borrowed the money to pay. Clarence knew he would make the monthly payments to repay the loan, but the good news was he is in school and the student loan interest he could deduct on his taxes.

[ True ] [ False ]