Question
This year Jack intends to file a married-joint return. Jack received $172500 of salary and paid $5000 of interest on loans used to pay qualified
This year Jack intends to file a married-joint return. Jack received $172500 of salary and paid $5000 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 $4300 and $28300 of alimony. (Do not round intermediate calculations.)
A.what is jack adjusted gross income
B.Suppose that jack also reported income of $8800 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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