Give me correct answer with explanation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Give me correct answer with explanation.f

Transcribed Image Text:This year Diane intends to file a married - joint return. Diane received $188, 100 of salary and paid $5,650 of interest on loans used to pay
qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $7,700 and $28, 600 of alimony
to her ex-spouse, Jack, who she divorced in 2013. A. What is Diane's adjusted gross income? B. Suppose that Diane also reported income
of $9,800 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?
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