Data: This year Jack intends to file a married-joint return. Jack received $179,200 of salary and paid $5,750 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,000 and $30,900 of alimony to his ex-wife, Diane, who divorced him in 2012. Question: What is Jack's adjusted gross income?

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
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  • This year Jack intends to file a married-joint return. Jack received $179,200 of salary and paid $5,750 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,000 and $30,900 of alimony to his ex-wife, Diane, who divorced him in 2012.

Question:

  • What is Jack's adjusted gross income?

Please and thank you,

Stephanie

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