IQ is a comparison of your test results to the results of people your own age. The average IQ is 100. If you gave 1,000 people a really hard test, your results would look like this: The higher the graph goes, the more people who have achieved that score.
Federal Student Loan Interest Deduction. A deduction is allowed for interest paid by the taxpayer, up to an annual maximum of $2,500, for a qualified education loan for both undergraduate and graduate education, subject to taxpayer income limitations. Any federal tax law changes to this deduction will not be automatically adopted.
If you prefer to claim a deduction for your school expenses rather than a credit, the IRS allows you to deduct some of your tuition and fee payments. However, this deduction has expired as of the end of 2013. Since this is not an itemized expense, anyone can take the deduction. One thing to keep in mind is that you can never claim more than one educational tax benefit per student, per year. You cannot claim a tuition deduction and a tax credit in the same year for the same student.