Question
This year Jack intends to file a married-joint return.Jack received $173,000 of salary, and paid $8,950 of interest on loans used to pay qualified tuition
This year Jack intends to file a married-joint return.Jack received $173,000 of salary, and paid $8,950 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb.This year Jack has also paid moving expenses of $6,100 and $32,100 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?
b.Suppose that Jack also reported income of $10,100 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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