McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 60

This year Jack intends to file a married-joint return with two dependents.Jack received $157,500 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 qualified moving expenses of $4,300 and $24,000 of alimony.
a.What is Jack's adjusted gross income? Assume that Jack will opt to treat tax items in a manner to minimize his AGI.
b.Suppose that Jack also reported income of $8,800 from a half share of profits from a partnership.What AGI would Jack report under these circumstances? Again, assume that Jack will opt to treat tax items in a manner to minimize his AGI.