Question

This year Jack intends to file a married-joint return. Jack received $175,200 of salary and paid $8,200 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $6,950 and $34,800 of alimony to his ex-wife, Diane, who divorced him in 2012.

**a.** What is Jack's adjusted gross income?

*I am having particular trouble calculating Student Loan Interest Deduction*

Answer #1

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This year Jack intends to file a married-joint return. Jack
received $172,500 of salary, and paid $5,000 of interest on loans
used to pay qualified tuition costs for his dependent daughter,
Deb. This year Jack has also paid moving expenses of $4,300 and
$28,300 of alimony to his ex-wife, Diane, who divorced him in 2012.
(Round your intermediate calculations and final answer to
the nearest whole dollar amount.)
a. What is Jack's adjusted gross income?
b. Suppose that Jack also...

This year Jack intends to file a married-joint return. Jack
received $172,800 of salary and paid $9,500 of interest on loans
used to pay qualified tuition costs for his dependent daughter,
Deb. This year Jack has also paid moving expenses of $8,700 and
$28,600 of alimony to his ex-wife, Diane, who divorced him in 2012.
(Do not round intermediate calculations and round your
final answer to the nearest whole dollar amount.)
a. What is Jack’s adjusted gross income?
b. Suppose...

This year Jack intends to file a married-joint return. Jack
received $178,400 of salary, and paid $8,600 of interest on loans
used to pay qualified tuition costs for his dependent daughter,
Deb. This year Jack has also paid moving expenses of $4,550 and
$35,100 of alimony to his ex-wife, Diane, who divorced him in 2012.
(Round your intermediate calculations and final answer to
the nearest whole dollar amount.)
b. Suppose that Jack also reported income of
$10,900 from a half...

This year Jack intends to file a married-joint return with two
dependents. Jack received $176,200 of salary and paid $7,500 of
interest on loans used to pay qualified tuition costs for his
dependent daughter, Deb. This year Jack has also paid qualified
moving expenses of $4,750 and $33,900 of alimony to his ex-wife,
who divorced him in 2012.
A.) What is Jack's adjusted gross income?
B.) Suppose that Jake also reported income of $10,400 from a
half share of profits...

[The following information applies to the questions
displayed below.]
This year Jack intends to file a married-joint return. Jack
received $172,500 of salary, and paid $5,000 of interest on loans
used to pay qualified tuition costs for his dependent daughter,
Deb. This year Jack has also paid moving expenses of $4,300 and
$28,300 of alimony to his ex-wife, Diane, who divorced him in 2012.
(Round your intermediate calculations and final answer to
the nearest whole dollar amount.)
a. What is...

[The following information applies to the questions displayed
below.] This year Jack intends to file a married-joint return. Jack
received $177,600 of salary, and paid $7,200 of interest on loans
used to pay qualified tuition costs for his dependent daughter,
Deb. This year Jack has also paid moving expenses of $5,250 and
$28,500 of alimony to his ex-wife, Diane, who divorced him in 2012.
(Round your intermediate calculations and final answer to the
nearest whole dollar amount.)
a. What is...

[The following information applies to the questions displayed
below.] This year Jack intends to file a married-joint return. Jack
received $174,000 of salary, and paid $9,900 of interest on loans
used to pay qualified tuition costs for his dependent daughter,
Deb. This year Jack has also paid moving expenses of $4,900 and
$32,400 of alimony to his ex-wife, Diane, who divorced him in 2012.
(Round your intermediate calculations and final answer to the
nearest whole dollar amount.)
a. What is...

1) Tariq and Hanan are a married couple and file joint return
with AGI of $275,500 for 2019.They paid $25,000 of mortgage
interest, $12,000 of unreimbursed medical expenses, $5,000 of
property taxes, $3,500 interest on a credit card, and $15,000 of
charitable contributions for the year. How much their itemized
deductions for 2019?
A.
some other amount.
B.
$45,000.
C.
$57,000.
D.
$60,500.
E.
$48,500.
2) Senan bought a home in 2012 for $625,000 financing $550,000
of the purchase price...

Matt and Carrie are married, have two children, and file a joint
return. Their daughter Katie is 19 years old and is a full-time
student at State University. During 2017, she completed her
freshman year and one semester as a sophomore. Katie’s expenses
while she was away at school during the year were as follows: Use
Tax Rate Schedule for reference.
Tuition
$
5,020
Class fees
305
Books
505
Room and board
4,510
Katie received a half-tuition scholarship that...

John and Sandy Ferguson got married
eight years ago and have a seven-year-old daughter, Samantha. In
2018, John worked as a computer technician at a local university
earning a salary of $154,200, and Sandy worked part-time as a
receptionist for a law firm earning a salary of $31,200. John also
does some Web design work on the side and reported revenues of
$6,200 and associated expenses of $1,850. The Fergusons received
$1,240 in qualified dividends and a $310 refund of...

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