Which of the following statements is not correct with respec

Which of the following statements is not correct with respect to the exclusion of a student\'s loan by a quali institution under IRC 5108 because of TC&JA;? A. It is excludible if a student is totally and permanently disabled B. It is excludible when the student uses the loan amount to pay off his credit card balances ° C. It is excludible if a student dies in 2020 0 D. It is excludible if a student is totally and permanently disabled or dies in 2020

Solution

Students loan is exludible by qualified institution under IRC108 under following situations-
1) Student is totally and permanently disabled, or,
2) Student dies in 2020.

Hence, the answer for the above question is-
B) It is excludible when the student uses the loan amount to pay off his credit card balances.