This year Riley files single and reports modified AGI of $$81,000.$ Riley paid $$1,200$ of interest on a qualified education loan. What amounts can Riley deduct for qualifying education interest?

Multiple Choice

The deduction for qualifying education interest is $$1,200.$

The deduction for qualifying education interest is $$1,000.$

The deduction for qualifying education interest is $$720.$

The deduction for qualifying education interest is $$200.$