Lewis Is an Unmarried Law Student at State University, a Qualified

question 75

Multiple Choice

Lewis is an unmarried law student at State University, a qualified educational institution. Last year Lewis borrowed $30,000 and used the proceeds to pay his university tuition. This year Lewis paid $1,500 of interest on the loan. Which of the following is a true statement if Lewis reports $40,000 of salary and no other items of income or expense?

• A) Lewis can deduct all the interest on his student loan for AGI.
• B) Lewis can deduct all the interest on his student loan as an itemized deduction.
• C) Lewis can only deduct $1,000 of the interest on his student loan for AGI.
• D) Lewis can only deduct $1,000 of the interest on his student loan as an itemized deduction.
• E) All of the above are false.

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Definitions:

Egalitarian

A principle that emphasizes equality and equal rights among all people, advocating for the removal of inequalities among people.

Gender-schema Theory

A theory that suggests that individuals learn about gender roles and cultural expectations through the categorization of their experiences according to gender.

Cognitive Development

The process through which individuals acquire and understand knowledge, including thinking, knowing, remembering, and problem-solving skills.

Prosocial Behavior

Voluntary actions intended to benefit or help others.