ACC 230 Federal TaxesStudent Loan Interest problems:1.Erin, who files as a single individual, has a modified AGI of $37,...

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ACC 230 Federal Taxes
Student Loan Interest problems:
1.

Erin, who files as a single individual, has a modified AGI of $37,000. She paid
$737 of qualified student loan interest and receives a 1098e statement from
American Education Services (AES) stating that. How much may Erin deduct on
her Form 1040?

2. During 2010, Jeremy paid $800 in interest on a qualified student loan. Jeremy
files a joint return with his wife. Their modified AGI is $145,000. What is the
amount of Jeremy’s student loan interest deduction?

3. During 2010, Laura paid interest of $2620 on a qualified student loan. Laura is
single. Her modified AGI is $71,400. How much can Laura deduct as student
loan interest on her tax return?

4. During 2011, Ismael paid $580 interest on a qualified student loan. He files his
tax return as a single taxpayer. His modified AGI is $95,812. What is Ismael’s
deduction for student loan interest?

5. Coco and Igor file a joint return. Their MAGI is $119,700. Coco has paid $2510
in qualified student loan interest. What is their deduction for student loan
interest?










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