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This year Diane intends to file a married-joint return. Diane received $177,700 of salary and...

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Accounting

This year Diane intends to file a married-joint return. Diane received $177,700 of salary and paid $7,200 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb. This year Diane has also paid moving expenses of $5,250 and $28,400 of alimony to her ex-spouse, Jack, who she divorced in 2012.

A) What is Diane's adjusted gross income?

B) Suppose that Diane also reported income of $9,700 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?

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