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In 2010 through 2013, Rory borrowed a total of $30,000 for higher education expenses on qualified education loans. In 2014, while still living at home
In 2010 through 2013, Rory borrowed a total of $30,000 for higher education expenses on qualified education loans. In 2014, while still living at home and being claimed by his parents as a dependent, he began making payments on the loan. The first year interest on the loan was reported as $1,750. The amount that Rory can claim on his tax return is:
a) $0. b) $1,500. c) $1,750. d) $2,500.
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