ewis is an unmarried law student at State University, a qualified educational institution. Last year Lewis borrowed $$30,000$ and used the proceeds to pay his university tuition. This year Lewis paid $$1,500$ of interest on

he loan. Which of the following is a true statement if Lewis reports $$40,000$ of salary and no other items of income or expense?

Multiple Choice

Lewis can deduct all the interest on his student loan for AGI.

Lewis can deduct all the interest on his student loan as an itemized deduction.

Lewis can only deduct $$1,000$ of the interest on his student loan for AGI.

Lewis can only deduct $$1,000$ of the interest on his student loan as an itemized deduction.

All of these choices are false.