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This year Jack intends to file a married joint return with two dependents. Jack received $162,500 of salary and paid $5.000 of interest on loans
This year Jack intends to file a married joint return with two dependents. Jack received $162,500 of salary and paid $5.000 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 $4,300 and S24.000 of alimony. (Do not round intermediate calculations.) Required information 0.00 points What is Jack's adjusted gross income? Assume that Jack will opt to treat tax items in a manner to minimize hi AG ack's AGI References eBook & Resources Problem Difficulty: 2 Medium Learning Objective: 06-01 Identify the common deductions necessary for calculating adjusted gross income (AGI). heck my work Required information 0.00 points Suppose that Jack also reported income of $8,800 from a half share of profits from a partnership. Disregard any potential self-employment taxes on this income. What AGI would ack report under these circumstances? Again, assume that Jack will opt to treat tax items in a manner to minimize his AGI. ack's AGI
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