his year Diane intends to file a married-joint return. Diane received $177,500 5,000 of interest on loans used to pay qualified tuition costs for her depend ear Diane has also paid moving expenses of $4,300 and $28,300 of alimony who she divorced in 2012. lote: Round your intermediate calculations and final answer to the nearest
his year Diane intends to file a married-joint return. Diane received $177,500 5,000 of interest on loans used to pay qualified tuition costs for her depend ear Diane has also paid moving expenses of $4,300 and $28,300 of alimony who she divorced in 2012. lote: Round your intermediate calculations and final answer to the nearest
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 57P
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![Required information
[The following information applies to the questions displayed below.]
This year Diane intends to file a married-joint return. Diane received $177,500 of salary and paid
$5,000 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This
year Diane has also paid moving expenses of $4,300 and $28,300 of alimony to her ex-spouse, Jack,
who she divorced in 2012.
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
b. Suppose that Diane also reported income of $8,800 from a half share of profits from a partnership. Disregard any
potential self-employment taxes on this income. What AGI would Diane report under these circumstances?
Diane's AGI](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc106c430-f07b-4113-90c5-72e8b17a210a%2Ffac76003-a177-4d9c-89d0-aab0217db4cb%2Fi5xf42_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
This year Diane intends to file a married-joint return. Diane received $177,500 of salary and paid
$5,000 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This
year Diane has also paid moving expenses of $4,300 and $28,300 of alimony to her ex-spouse, Jack,
who she divorced in 2012.
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
b. Suppose that Diane also reported income of $8,800 from a half share of profits from a partnership. Disregard any
potential self-employment taxes on this income. What AGI would Diane report under these circumstances?
Diane's AGI
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