Charde,who is single,had a student loan for qualified education expenses on which interest was due.For 2016,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 2016?

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Quizplus · Accepted Answer

For 2016, the maximum student loan interest deduction is $2,500. Since Charde's interest payments were $2,000 and her AGI is under the phase-out threshold, she can deduct the full $2,000.

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