8a Meg (single taxpayer) pays $1,900 in student loan interest. Her AGI is $77,000. What is her For AGIstudent loan deduction?$0$887O $1,900$1,013 You bought a house in 2004 for $150,000. Sadly, you suffered an injury. Your doctor prescribes wateraerobics as your therapy and prescribes building a pool. You spend $31,000 to build the pool. Becauseyou built the pool your house now appraises for $165,000. Assume all of your other injury related costswere covered by your health insurance, which you pay $4,400 a year for. If your AGI is $200,000, what isyour allowable medical expense deduction?$400$0$20,400$5,400O $35,400

Lets understand the basics. Student loan interest deduction is lessor of interest paid and $2,500…

Answered: Meg (single taxpayer) pays $1,900 in…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter5: Deductions For And From Agi

Section: Chapter Questions

Problem 25MCQ

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Meg (single taxpayer) pays $1,900 in student loan interest. Her AGI is $77,000. What is her For AGI student loan deduction? $0 $887 $1,900 $1,013