This Year, Jong Paid $3,000 of Interest on a Qualified

question 10

Multiple Choice

This year, Jong paid $3,000 of interest on a qualified education loan. Jong files married filing jointly and reports modified AGI of $152,000. What is Jong's deduction for interest expense on an educational loan?

• A)$2,500
• B)$3,000
• C)$1,500
• D)$1,000
• E)None of the choices are correct.

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