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Lisa, a California resident, is a single taxpayer for the 2024 tax year. She rents...

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Accounting

Lisa, a California resident, is a single taxpayer for the 2024 tax year. She rents her apartment and qualifies for the California Renter's Credit. Lisa also received notice that her community college discharged $1,500 in unpaid student fees under California Education Code Section 32527. Based on the information provided, how will these two events impact Lisa's California income tax for 2024?
The discharged student fees will reduce the amount of rent she can claim for the Renter's Credit
The discharged student fees will increase her tax liability because they are considered taxable income
The discharged student fees will have no impact on her eligibility or amount for the Renter's Credit
Lisa is no longer eligible for the Renter's Credit since she received financial assistance from the college

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