Which of the following is a common deductible expense for students?

The choice of qualified tuition and fees as a common deductible expense for students is correct because it directly pertains to the educational costs that students incur while attending post-secondary institutions. The IRS allows students to deduct certain education-related expenses when they file their taxes, provided they meet specific criteria. This includes not just tuition but also mandatory fees that students must pay to the institution as a condition of enrollment.

Qualified tuition and fees can help reduce the overall tax liability for students and is specifically designed to alleviate the financial burden of education. Other expenses, such as living expenses, transportation costs, and textbook costs, typically fall under different categories and might not be deductible in the same way or might be subject to limitations. For instance, living expenses are generally not deductible since they are considered personal expenses. Transportation costs may only be deductible under certain conditions, such as in the case of commuting for qualified education-related travel, and textbook costs might not qualify for a deduction unless they meet specific educational criteria laid out by the IRS.