Assume the same facts as in Problem 31, except that Sally has AGI of $ 70 ,

Question:

Assume the same facts as in Problem 31, except that Sally has AGI of $$ 70, 000$ . What is her qualified student loan interest deduction in 2018?

Problem 31

The interest paid on Josephine Young's personal residence for the year 2018 totals $$ 4, 800$ ; the interest paid on her personal credit card is $$ 80$ ; the interest paid on a note to the National Bank ( $3 / 4$ of which was used to buy state and municipal bonds, the rest to buy stock) is $$ 1, 000$ . If she has interest income of $$ 2, 000$ , what is Josephine's total interest deduction for the year?