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Business, 12.08.2020 07:01 nayely1020

Shellie, a single individual, received her Bachelor’s degree in 2018 and took a job with a salary of $45,000 per year. In 2019, she began paying interest on qualified education loans. She was able to pay $1,500 in 2019. Which of the following statements is not correct? a. Taxpayers are not allowed a deduction for education loan interest in 2019.
b. If her income had been $60,000, the deductible amount would have been phased out.
c. If her payment had been $3,000, only $2,000 would have been deductible in arriving at AGI and the $1,000 excess would have been treated as nondeductible consumer interest.
d. The full $1,500 is deductible in arriving at adjusted gross income (AGI).

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