Mike paid $4,000 of interest on a qualified education loan that he used to pay for his dependent son's college education. How much of this payment can Mike deduct as a for AGI deduction if he files married-joint and reports modified AGI of $170,000?
Mike paid $4,000 of interest on a qualified education loan that he used to pay for his dependent son's college education. How much of this payment can Mike deduct as a for AGI deduction if he files married-joint and reports modified AGI of $170,000?
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 24MCQ
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Question
vt.1
Transcribed Image Text:Mike paid $4,000 of interest on a qualified education loan that he used to pay for his dependent son's college education. How much of this payment can
Mike deduct as a for AGI deduction if he files married-joint and reports modified AGI of $170,000?
Multiple Choice
$4,000
O $2,500
$2,000
$1,250
None of the choices are correct - no deduction is allowed.
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