Required information Problem 6-33 (LO 6-1) (Algo) [The following information applies to the questions displayed below.] This year Diane intends to file a married-joint return. Diane received $181,300 of salary and paid $7,500 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $4,750 and $30,200 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. Problem 6-33 Part-b (Algo) b. Suppose that Diane also reported income of $10,400 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? Diane's AGI
Required information Problem 6-33 (LO 6-1) (Algo) [The following information applies to the questions displayed below.] This year Diane intends to file a married-joint return. Diane received $181,300 of salary and paid $7,500 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $4,750 and $30,200 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. Problem 6-33 Part-b (Algo) b. Suppose that Diane also reported income of $10,400 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? Diane's AGI
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 2BCRQ
Related questions
Question
None
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT