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

question 44

Multiple Choice

This year, Jong paid $3,000 of interest on a qualified education loan. Jong files married filing joint and reports modified AGI of $147,000.  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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