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Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $36,000 from County Bank and paid
Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $36,000 from County Bank and paid interest of $2,160. Lionel used the loan proceeds to pay his law school tuition. Calculate the amounts Lionel can deduct for interest on higher-education loans under the following circumstances: Note: Leave no answer blank. Enter zero if applicable. Problem 6-65 Part-a (Algo) a. Lionel's AGI before deducting interest on higher-education loans is $50,000. b. Lionel's AGI before deducting interest on higher-education loans is $84,000. c. Lionel's AGI before deducting interest on higher-education loans is $95,000
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