Question
Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $24,000 from County Bank and paid
Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $24,000 from County Bank and paid interest of $1,440. Lionel used the loan proceeds to pay his law school tuition. What amounts Lionel can deduct for interest on higher-education loans if Lionel's AGI before deducting interest on higher-education loans is $84,000?
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Accounting
Authors: Michael J. Jones
2nd Edition
0470017791, 978-0470017791
