Leslie,who Is Single,finished Graduate School This Year and Began Repaying

question 42

Multiple Choice

Leslie,who is single,finished graduate school this year and began repaying her student loan.The proceeds of the loan were used to pay her qualified higher education expenses.She has not received any type of educational assistance or scholarships.The amount of interest paid during the year amounted to $3,800.What is the amount and classification of her student loan interest education deduction if her modified AGI is $40,000?

• A)$2,500 for AGI
• B)$2,500 from AGI
• C)$3,800 for AGI
• D)$3,800 from AGI

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Definitions:

National Bureaucracy

The complex structure of departments, agencies, and employees that constitute the administrative arm of a national government, responsible for implementing and managing public policies and services.

Oversight

The review, monitoring, and supervision of operations and activities within governmental organizations to ensure they are compliant with laws, rules, and regulations and are functioning efficiently and effectively.

Legislation

Laws that are proposed and enacted by a legislative body through its legislative process.

Bureaucracy

A large, complex organization composed of appointed officials, where the organization's administrative policies and decisions are made.