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Business, 24.03.2020 20:03 amoore51

This year Jack intends to file a married-joint return. Jack received $178,800 of salary, and paid $7,050 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $7,400 and $31,200 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.)
a. What is Jack's adjusted gross income? Assume that Jack will opt to treat tax items in a manner to minimize his AGI.
b. Suppose that Jack also reported income of $9,700 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? Again, assume that Jack will opt to treat tax items in a manner to minimize his AGI. What's Jack's AGI?

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This year Jack intends to file a married-joint return. Jack received $178,800 of salary, and paid $7...
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