Acc Tax ch 6

This year Jack intends to file a married-joint return with two dependents. Jack received $168,200 of salary and paid $6,950 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid qualified moving expenses of $5,550 and $28,000 of alimony. (Do not round intermediate calculations.)

a. What is Jack's adjusted gross income? Assume that Jack will opt to treat tax items in a manner to minimize his AGI. Jack AIG-

b. Suppose that Jack also reported income of $12,650 from a half share of profits from a partnership. Disregard any potential self-employment taxes on this income. What AGI would Jack report under these circumstances? Again, assume that Jack will opt to treat tax items in a manner to minimize his AGI.

Jack AIG-