What is jack adjusted gross income

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Reference no: EM132088868

Question: This year Jack intends to file a married-joint return with two dependents. Jack received $172, 200 of salary and paid $9, 800 of interest on loans used to pay qualified tuition costs for his dependent daughter. Deb. This year Jack has also paid qualified moving expenses of $7, 500 and $29, 400 of alimony. (Do not round intermediate calculations.)

What is Jack's adjusted gross income? Assume that Jack will opt to treat tax items in a manner to minimize his AGI.

Suppose that Jack also reported income of $13,000 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.

Reference no: EM132088868

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