For 2017,taxpayers Are Eligible to Take a Maximum Student Loan

question 68

Multiple Choice

For 2017,taxpayers are eligible to take a maximum student loan interest deduction of up to:

• A)$3,000.
• B)$2,800.
• C)$2,500.
• D)$2,150.

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Definitions:

Retake Possession

The act of reclaiming ownership or control of property, typically by a seller or lender from whom the property was bought on credit or leased.

Pay Installments

To make payments for a good or service over a period of time in portions, rather than paying the full amount upfront.

Severance

An owner’s removal of chattel that he has affixed; separation or division of joint ownership; action by one of the co-owners that is inconsistent with joint tenancy.

Joint Ownership

Shared ownership of property by two or more parties where all owners have equal rights and obligations regarding the property.