Home / Questions / This year Jack intends to file a married-joint return. Jack received $171,400 of salary and paid $8,
This year Jack intends to file a married-joint return. Jack received $171,400 of salary and paid $8,550 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,950 and $29,700 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.)
rev: 04_13_2019_QC_CS-166082
a. What is Jack's adjusted gross income?
b. Suppose that Jack also reported income of $13,150 from a half share of profits from a partnership. Disregard any potential self-employment taxes on this income. What AGI would Jack report under these circumstances?
10.
Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $54,200 and has incurred the following medical expenses:
| Dentist charges | $ | 1,410 |
| Physician charges | 1,890 | |
| Optical charges | 525 | |
| Cost of eyeglasses | 465 | |
| Hospital charges | 2,300 | |
| Prescription drugs | 385 | |
| Over-the-counter drugs | 695 | |
| Medical insurance premiums (not through an exchange) | 1,015 | |
10 a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
10 b. Suppose that Simpson was reimbursed for $250 of the physician's charges and $1,200 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
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