Collin and Christine Are Married and File Joint

question 77

Essay

Collin and Christine are married and file joint. Their dependent son, Trevor, is a full-time college student at a qualified educational institution. This year Collin and Christine borrowed $30,000 to pay for Trevor's tuition ($22,000) and room and board ($8,000). At year end Collin paid $3,200 in interest on the loan. What amounts can Collin and Christine deduct for interest and education expenses if they estimate that their AGI will be $133,000 absent any deductions for AGI?

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Definitions:

39MT Starter Motor

The 39MT Starter Motor is a specific model of starter motor designed for heavy-duty vehicles, known for its reliability and performance in starting engines.

Hold-in Windings

Electromagnetic coils in a solenoid or relay responsible for maintaining the position of the armature once activated.

Winding Turns

Refers to the number of times a wire or cable is coiled around a core or spool, impacting the electrical properties in devices like transformers and inductors.