Required information [The following information applies to the questions displayed below.] This year Jack intends to file a married-joint return. Jack received $172,500 of salary and paid $5,000 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $4,300 and $28,300 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.) b. Suppose that Jack 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 Jack report under these circumstances? Jack's AGI
Required information [The following information applies to the questions displayed below.] This year Jack intends to file a married-joint return. Jack received $172,500 of salary and paid $5,000 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $4,300 and $28,300 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.) b. Suppose that Jack 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 Jack report under these circumstances? Jack's AGI
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 32P
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Question
![Required information
[The following information applies to the questions displayed below.]
This year Jack intends to file a married-joint return. Jack received $172,500 of salary and paid $5,000 of interest on
loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving
expenses of $4,300 and $28,300 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.)
b. Suppose that Jack 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 Jack report under these circumstances?
Jack's AGI](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9d921497-5a53-442a-a059-66fc6bff7335%2F732c4b22-6454-4f1b-8c8d-7cb69468e800%2F1rqn0spo_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
This year Jack intends to file a married-joint return. Jack received $172,500 of salary and paid $5,000 of interest on
loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving
expenses of $4,300 and $28,300 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.)
b. Suppose that Jack 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 Jack report under these circumstances?
Jack's AGI
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