Question
Naomi received an invoice from T&L LLC (a law firm) for $3,700 for the following services performed in 2022: $700 for advising on a dispute
Naomi received an invoice from T&L LLC (a law firm) for $3,700 for the following services performed in 2022:
$700 for advising on a dispute with a tenant who lives in an apartment she owns and rents
$1,300 for fees related to preparing and filing her Form 1040
$1,700 for advising on a lawsuit filed regarding automobile accident in which Naomi lost her eye
Her rental income was $1,000. Naomi lost an eye in an automobile accident unrelated to her work. She collected $100,000 from an accident insurance policy carried by her employer. Naomi was absent from work for several weeks as a result of the accident. Her employer provides her with insurance for the loss of income. Naomi collected $7,500.
What is her AGI?
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