What agi would jack report under the given circumstances

Assignment Help Accounting Basics
Reference no: EM132218477

Question: This year Jack intends to file a married-joint return. Jack received $170,000 of salary and paid $7,250 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $4,450 and $30,300 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.)

Suppose that Jack also reported income of $13,100 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: EM132218477

Questions Cloud

Design a brute-force algorithm for this problem : Consider the problem of counting, in a given text, the number of substrings that start with an A and end with a B.
Draw an appropriate er diagram : COIT20247: Create an Entity Relationship (ER) diagram relevant to the above case study and optionally perform logical design to produce appropriate 3NF.
Calculate the cost of abnormal spoilage in september : Lokal Food Manufacturer produces the "Fresh" brand of pasteurised coconut milk from one of its manufacturing processes.
Find the total interest charges : A person amortizes a loan of $17000 for a car with a 5 years loan at the rate of 6.5% compounded monthly. Find the total interest charges. The interest is $.
What agi would jack report under the given circumstances : Suppose that Jack also reported income of $13,100 from a half share of profits from a partnership. Disregard any potential self-employment taxes on this income.
Calculate the data rate required for robot to remote : MITS5003: Prime Living is a real estate company based in Victoria and you work form them as a consultant network engineer.
Discuss revenue recognition under frs : Discuss revenue recognition under FRS 115 Revenues from contracts with customers in view of its application to construction contracts.
Discuss about the valuation allowance : Tomorrow Publication $115 million, and $105 million, respectively. The 2016 income statement does not include $20 million of magazine subscriptions received.
Computing the monthly mortgage payment : The Bhatts purchased a new home for $245 comma 000 with a down payment of $45 comma 000. They obtained a 25-year adjustable rate mortgage with the following.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd