Required information [The following information applies to the questions displayed below] This year Diane intends to file a married-joint return. Diane received $182,500 of salary and paid $8,500 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $6,600 and $30,800 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 $8,950 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?
Required information [The following information applies to the questions displayed below] This year Diane intends to file a married-joint return. Diane received $182,500 of salary and paid $8,500 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $6,600 and $30,800 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 $8,950 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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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