This year Diane intends to file a married-joint return. Diane received $192,100 of salary and paid $8,600 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $4,550 and $30,600 of alimony to her ex-spouse, Jack, who she divorced in 2013. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Problem 6-66 Part-b (Algo) b. Suppose that Diane also reported income of $10,900 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?

This year Diane intends to file a married-joint return. Diane received $192,100 of salary and paid $8,600 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $4,550 and $30,600 of alimony to her ex-spouse, Jack, who she divorced in 2013. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Problem 6-66 Part-b (Algo) b. Suppose that Diane also reported income of $10,900 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?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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0 Required information [The following information applies to the questions displayed below.] This year Diane intends to file a married-joint return. Diane received $192,100 of salary and paid $8,600 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $4,550 and $30,600 of alimony to her ex-spouse, Jack, who she divorced in 2013, Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. a. What is Diane's adjusted gross income? Diane's AGI
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