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What is Jacks adjusted gross income

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Question - This year Jack intends to file a married-joint return. Jack received $177,800 of salary, and paid $9,500 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $8,700 and $30,000 of alimony to his ex-wife, Diane, who divorced him in 2012.

Required -

a. What is Jack's adjusted gross income?

b. Suppose that Jack also reported income of $10,200 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?

Reference no: EM132556980

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