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09-04-2024
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This year, Jong paid $3,000 of interest on a qualified education loan. Jong files married filing jointly and reports modified AGI of $167,000. What is Jong's deduction for interest expense on an educational loan?

Question 5 options:

- $2,500
- $3,000
- $1,500
- $1,000
- None of the choices are correct.

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