Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Adjustments to Income Workout

Student Loan Interest

Case Study 8: Student Loan Interest Deduction

Latricia's qualified expenses for her student loan interest deduction came to a total of $7,200 for the year. The same year, she received a gift of $1,000 from her aunt, and $1,000 in veterans' educational assistance.

What amount of qualified expenses should Latricia use to figure her student loan interest deduction?