Question: This year Diane intends to file a married joint return. Diane received $180,700 of salary and paid $9,250 of interest on loans used to pay


This year Diane intends to file a married joint return. Diane received $180,700 of salary and paid $9,250 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $5,050 and $29,900 of alimony to her ex-spouse, Jack, who she divorced in 2012. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. a. What is Diane's adjusted gross income? This year Diane ends to file loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $5.050 and $29.900 of alimony to her ex-spouse, Jack, who she divorced in 2012. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. b. Suppose that Diane also reported income of $5,600 from a half share of profits from a partnership. Disregard any potential self- employment taxes on this income. What AGI would Diane report under these circumstances
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
