Marcia,who Is Single,finished Graduate School This Year and Began Repaying

question 55

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

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Definitions:

Strike Replacements

Workers who are hired by an employer to perform the job duties of striking employees during a labor strike.

Rights Disputes

Conflicts arising from the interpretation, application, or violation of contracts, laws, or agreements.

Contract Language

The specific wording and terminology used within a contract that outlines the rights, obligations, and agreements between parties.

Taft-Hartley Act

A 1947 federal law in the United States that restricts the activities and power of labor unions, including prohibiting certain types of strikes and requiring union leaders to swear they are not communists.