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

question 25

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 $142,000. 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 above.

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Definitions:

Reasonable Blind Person

A hypothetical standard used in legal contexts to assess accessibility or accommodations required for blind individuals to ensure equal opportunities.

Standard of Care

The level of competence, diligence, and prudence that a reasonable person would exercise in similar circumstances, often used in legal and medical contexts.

Intentionally

Done with purpose or deliberate intention; actions taken with a clear aim or objective in mind.

Negligent Conduct

Actions or failures to act that breach a duty of care owed to others, resulting in harm or injury.