Victor Is Single and Graduated from Wabash College in May

question 66

Multiple Choice

Victor is single and graduated from Wabash College in May of 2013. In January of 2014, he begins to repay his student loans. During the year he pays $1,500 of interest on the loans. His adjusted gross income for the year is $65,000. Victor can deduct student loan interest of

• A) $ - 0 -
• B) $ 800
• C) $1,000
• D) $1,200
• E) $1,500

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Definitions:

Social Readjustment Rating Scale

A scale that measures the amount of stress individuals experience as a result of major life changes and helps predict their impact on health.

Divorce

signifies the formal termination of a marriage by legal means, dissolving the marital bond between two individuals.

Marriage

A legally and socially sanctioned union between individuals that establishes rights and obligations between them, as well as between them and their children, and between them and their in-laws.

Parasympathetic Nervous System

Part of the autonomic nervous system responsible for rest and digest functions, reducing heart rate, and increasing digestive activity.