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This year Jack intends to file a married-joint turn. Jack received $178,460 of salary, and paid $7,850 of interest on loans used to pay qualified
This year Jack intends to file a married-joint turn. Jack received $178,460 of salary, and paid $7,850 of interest on loans used to pay qualified tuition costs for his daughter, Deb. This year Jack has also paid moving expense of $8,350 and $30,600 of alimony to his ex-wife, Diane, who divorced him in 2012. (Round intermediate calculations and final answer to the nearest whole dollar amount.)
1) What is Jacks adjusted gross income?
2)Suppose that Jack also reported income of $8,850 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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