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In 2014 through 2017, Korey, who is single, borrowed a total of $25,000 for higher education expenses on qualified education loans. In 2018, while still
In 2014 through 2017, Korey, who is single, borrowed a total of $25,000 for higher education expenses on qualified education loans. In 2018, while still living at home and being claimed by his parents as a dependent, he began making payments on the loan. The first years interest on the loan was reported as $550, and his AGI for the year was less than $65,000. The amount that Korey can claim on his 2018 tax return is: a. 0 b. 225 c. 340 d. 550
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