Question
[The following information applies to the questions displayed below.] This year Jack intends to file a married-joint return. Jack received $177,600 of salary, and paid
[The following information applies to the questions displayed below.] This year Jack intends to file a married-joint return. Jack received $177,600 of salary, and paid $7,200 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,250 and $28,500 of alimony to his ex-wife, Diane, who divorced him in 2012. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
a. What is Jack's adjusted gross income?
Jack's AGI ____________
Required information
[The following information applies to the questions displayed below.]
This year Jack intends to file a married-joint return. Jack received $177,600 of salary, and paid $7,200 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,250 and $28,500 of alimony to his ex-wife, Diane, who divorced him in 2012. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
b. Suppose that Jack also reported income of $9,700 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?
Jack's AGI __________________
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