Paola Is a Freshman in the Uc-Davis Degree Program in Veterinary
Paola is a freshman in the UC-Davis degree program in veterinary medicine. In 2015, Paola paid $3,000 in tuition, $500 for books, and $250 for supplies for class. Paola also paid room and board of $3,500. What is the total qualifying education expense for the student loan interest deduction for Paola in 2015?
Henry graduated from the University of Maryland in 2013. In 2015, to take advantage of lower interest rates, he refinanced his qualified education loans with another qualified student loan. He is not a dependent on another person's tax return. Before AGI limits, what is the maximum deduction available to him for the $3,200 he paid for educational student loan interest in 2015?
In 2011 through 2014, Rory borrowed a total of $30,000 for higher education expenses on qualified education loans. In 2015, while still living at home and being claimed by his parents as a dependent, he began making payments on the loan. The first year interest on the loan was reported as $1,750. The amount that Rory can claim on his tax return is:
Charde, who is single, had a student loan for qualified education expenses on which interest was due. For 2015, the total interest payments were $2,000. Assuming she has AGI under $65,000, how much may she deduct in arriving at adjusted gross income for 2015?