Which of the following statements regarding the qualified education interest deduction is CORRECT?

A)

The maximum deduction of $5,000 may be taken by a married taxpayer filing jointly with $200,000 of MAGI.

B)

The maximum deduction of $2,500 may be taken by a married taxpayer filing jointly with $200,000 of MAGI.

C)

The deduction may only be claimed by the taxpayer legally obligated to make the loan payments.

D)

The deduction may only be taken as an itemized deduction.