Freya,who is single,had a student loan for qualified education expenses on which interest was due.For 2017,the total interest payments were $2,000.Assuming she has AGI under $65,000,how much may she deduct in arriving at adjusted gross income for 2017?

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Quizplus · Accepted Answer

For 2017, the maximum deduction for student loan interest is $2,500. Since Freya's interest payments were $2,000 and her AGI is under $65,000, she can deduct the full amount of her interest payments, which is $2,000.

Freya,who Is Single,had a Student Loan for Qualified Education Expenses