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This year Jack intends to file a married-joint return. Jack received $180,800 of salary, and paid $8,350 of interest on loans used to pay qualified
This year Jack intends to file a married-joint return. Jack received $180,800 of salary, and paid $8,350 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,100 and $31,500 of alimony to his ex-wife, Diane who divorced him in 2012.
Suppose that Jack also reported income of $12,850 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?
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