Marcia, Who Is Single, Finished Graduate School This Year and Began

question 269

Multiple Choice

Marcia, 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 $3,000. What is the amount and classification of her student loan interest deduction if her AGI is $68,000?

• A) $2,000 for AGI
• B) $3,000 for AGI
• C) $2,500 for AGI
• D) $500 for AGI

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Definitions:

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint; it is often considered one of the fundamental human rights.

Southern Europe

A region comprising the countries located in the southern part of Europe, often characterized by distinct Mediterranean culture and climate.

Eastern Europe

A region typically considered to encompass the countries to the east of Germany and to the west of Russia, known for its diverse cultures and historical complexities.

Consumer Market

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