Dr. Doolittle finally finishes medical school and his internship and takes a job in the wilds of
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Dr. Doolittle finally finishes medical school and his internship and takes a job in the wilds of Alaska where he earns $70,000. He has no other income. Since there is no place for him to spend his earnings, he starts to pay down his student loans and pays $5,000 in interest in 2018. How much is Dr. Doolittle's deduction for education loan interest and where does he report it?
a. $1,667 as a deduction for AGI
b. $1,667 on Schedule A
c. $3,333 as a deduction for AGI
d. $2,500 as a deduction for AGI
e. $5,000 on Schedule A
f. $2,500 on Schedule A
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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