1)This fall Millie finally repaid her student loan. She originally borrowed the money to pay tuition several years ago, when she attended State University (a qualified educational institution). This year Millie paid a total of $2,400 of interest on the loan. If Millie files single and reports $75,000 of income and no other items of income or expense, how much of the interest can she deduct?

A) Millie can deduct $2,400

for AGI.

B) Millie can deduct $1,600

for AGI.

C) Millie can deduct $2,400

as an itemized deduction.

D) Millie can deduct $800 for

AGI.

E) Nonethe tuition is not

deductible.

2)This year, Jong paid $3,000 of interest on a qualified education loan. Jong files married filing jointly and reports modified AGI of $152,000. What is Jong's deduction for interest expense on an educational loan?

A) $2,500.

B) $3,000.

C) $1,500.

D) $1,000.

E) None of the choices are

correct.

3)Barney and Betty got divorced in 2018. In the divorce decree Betty agreed to pay Barney $24,000 per year for five years (or until Barney's death or remarriage) and $10,000 per year until their daughter, Pebbles, turns 19 years old. What amount (if any) is included in Barney's gross incomein 2019?

A) $10,000

B) $24,000

C) $34,000

D) $39,000

E) None of the payments are

included in gross income