Question
22.Brittney is a 31-year-old single taxpayer with a modified adjusted gross income (MAGI) of $85,000. In 2019, she paid interest on a qualified student loan.
22.Brittney is a 31-year-old single taxpayer with a modified adjusted gross income (MAGI) of $85,000. In 2019, she paid interest on a qualified student loan. What is the maximum amount of student loan interest she could potentially deduct?
A. $0
B. $2,250
C. $2,500
D. $4,000
23.Massimo (47) takes a $9,000 distribution from his IRA to pay some of his daughter's $12,000 qualified education expenses at an eligible educational institution. His daughter paid $4,000 of her expenses with a tax-free scholarship. How much of Massimo's IRA distribution is subject to the 10% tax on early distributions? Check
A. $9,000
B. $3,000
C. $1,000
24.Nancie Simon's father, Benjamin, died in 2019. Nancie was named the designated beneficiary of Benjamin's Roth IRA. The rules for distributions from an inherited Roth IRA allow for Nancie to take withdrawals over:
A. Nancie's expected life span.
B. Benjamin's remaining life expectancy.
C. Ten years after the year of death of Benjamin.
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