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In 2020, Curt and Rita, who are married and file a joint return, paid $3,000 of interest on a qualified student loan. Their combined salary
In 2020, Curt and Rita, who are married and file a joint return, paid $3,000 of interest on a qualified student loan. Their combined salary was $154,250. Curt and Rita provide over one half of the support for their 18 year old daughter Martha Martha is working at a fast food restaurant and is saving money to attend college in 2021. They also provide more than half of the support for Rita's mother Mable who lives by herself in an apartment in Fort Lauderdale, Florida In addition, for the current year, they contributed to the mayor's reelection program Curt and Rita were able to contribute only 6,000 to their RA account. In calculating their federal tax return, they are looking to maximize their deductions. How much are Curt and Rita allowed to deduct in relation to a student loan interest for 2020? Round to the nearest dollar. In 2020, Curt and Rita, who are married and file a joint return, paid $3,000 of interest on a qualified student loan. Their combined salary was $154,250. Curt and Rita provide over one half of the support for their 18 year old daughter Martha Martha is working at a fast food restaurant and is saving money to attend college in 2021. They also provide more than half of the support for Rita's mother Mable who lives by herself in an apartment in Fort Lauderdale, Florida In addition, for the current year, they contributed to the mayor's reelection program Curt and Rita were able to contribute only 6,000 to their RA account. In calculating their federal tax return, they are looking to maximize their deductions. How much are Curt and Rita allowed to deduct in relation to a student loan interest for 2020? Round to the nearest dollar
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