Simon graduated from Lessard University last year. He financed his education by working part-time and borrowing $16,000.
Question:
Simon graduated from Lessard University last year. He financed his education by working part-time and borrowing $16,000. During the current year, he pays $1,400 of interest on his student loan.
a. What amount can Simon deduct as student loan interest if his adjusted gross income is $33,000?
b. What amount can Simon deduct as student loan interest if his adjusted gross income is $72,000?
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a Simon can deduct the 1400 of student loan interest for adjusted gross income A qualified education ...View the full answer
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ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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