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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 $45,000. Other information follows: $ 4,000 1,500 Income from consulting business Consulting expenses other than home office Total costs relating to home: Interest and taxes Utilities Maintenance and repairs Depreciation (business part only) 6,500 1,500 450 1,500 Required: Calculate David's AGI. AGI
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