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David is a college professor who does some consulting work on the side. He uses 25% of his home exclusively for the consulting practice. He
David is a college professor who does some consulting work on the side. He uses 25% of his home exclusively for the consulting practice. He is single and 63 years old. His AGI (without consideration of consulting income) is $43,000. Other information follows:
Income from consulting business$4,325Consulting expenses other than home office1,760Total costs relating to home:Interest and taxes6,695Utilities1,630Maintenance and repairs515Depreciation (business part only)1,825
Calculate David's AGI.
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