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Darryl is a single, self-employed motorcycle repairman. In 2020, he collected revenues of $100,000 from bike repairs and paid business-related expenses of $80,000. He also
Darryl is a single, self-employed motorcycle repairman. In 2020, he collected revenues of $100,000 from bike repairs and paid business-related expenses of $80,000. He also rents out space in his garage, collecting $35,000 of rent during 2020. His rental-related expenses totaled $20,000. He paid self-employment tax of $2,826 and health insurance premiums of $22,000 (he is not eligible to be covered under an employer-sponsored health plan). What is Darryls AGI?
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