This year Noah paid $4,100 of interest on a loan that paid his undergraduate student...
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Accounting
This year Noah paid $4,100 of interest on a loan that paid his undergraduate student loan used to pay tuition. How much of this payment can he deduct as interest expense on an educational loan if he files single and reports modified AGI of $76,000? A. $1,500. B. $4,100. C. $2,000. D. $0. E. $2,500.
Dan is a former executive who is retired. This year he received $260,000 in pension payments and $10,000 of social security payments. What amount must Tom include in his gross income?
A. Zero
B. $268,500
C. $278,500
D. $270,000
E. $260,000
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