In connection with § 222 (deduction for qualified tuition and related expenses), comment on the relevance of the following: 1. The standard deduction is claimed.
2. Enrollment at a college does not require the payment of a student activity fee.
3. Miscellaneous itemized deductions are not allowed.
4. The taxpayer is married and files a separate return.
5. A father pays the tuition on behalf of a daughter who does not qualify as his dependent.
6. The taxpayer is single and has MAGI of $80,001.
7. The lifetime learning credit is claimed.
8. The taxpayer, a CPA, pays for tuition and course materials to attend law school.

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Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan