Rachel Is Single and Has a College Degree in Finance

Multiple Choice

Rachel is single and has a college degree in finance. She is employed as a loan officer at a bank; her yearly AGI approximates $50,000. During the year, she enrolled in a weekend MBA program and incurred the following nonreimbursed expenses: $4,100 (tuition) , $300 (books) , $200 (other school supplies) , and $200 (transportation to and from campus) . Disregarding the 2%-of-AGI limitation, as to the MBA program, Rachel has a:

A) Deduction for and deduction from AGI of $0.
B) Deduction for AGI of $4,000 and deduction from AGI of $800.
C) Deduction for AGI of $4,000 and deduction from AGI of $700.
D) Deduction for AGI of $4,100 and deduction from AGI of $700.
E) None of the above.