This year Jack intends to file a married-joint return. Jack received $180,000 of salary, and paid $6,450 of interest on loans used to pay qualified tuition costs for his dependent daughter, Deb. This year Jack has also paid moving expenses of $5,750 and $34,500 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.)

$133,000 approximately to the nearest whole dollar

Explanation:

180,000-

(6450+5750+34500=46700)

180,000-46700=133,300

Appropriate items on the Married-Joint Return are as follows:

Salary                                                                                           $180,000.00

Les:                                                       $6,450.00

 Statutory deduction of a dependent ($turn4250.00)                        $2,200.00

Moving Expenses                                                                           $5,750.00

Alimony                                                                                           $34,500.00

Total                                                                                                 $42,450.00

$180,000.00 -$42,450.00 = $137,600.00

$137,600.00 is more that the 2020 statutory Married joint Return which is $24,400.00

Note:

The married filing jointly status typically gives married couples the highest standard deduction, the lowest tax bill and more tax breaks than if they file separately. The downside? Both spouses are liable for taxes owed on a joint return, even if one didn't earn any income. And in some cases, it might make sense to file separate returns.

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