Question
. Martha is single and graduated from Ivy Tech in May of 2014. In January of 2015, she begins repaying her student loans and pays
. Martha is single and graduated from Ivy Tech in May of 2014. In January of 2015, she begins repaying her student loans and pays interest on the loans of $2,600 in 2015 and $1,200 in 2016. Her adjusted gross income in 2015 is $63,000 and is $80,000 in 2016. Martha can deduct student loan interest of
2015 2016
|
| a. | $- 0 - $-0- |
|
| b. | $2,000 $1,200 |
|
| c. | $2,500 $1,200 |
|
| d. | $2,000 $-0- |
|
| e. | $2,500 $-0- |
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
