Read through the following items and determine what the taxable income is. For any amount that is not taxable or tax deductible explain why it is not. Enter your answers in the shaded boxes. Examples follow:	Taxable Income	FOR AGI Deductions	FROM AGI Deductions	Explanation for anything excluded
	Example: Jesse earned $100 of savings account interest and $500 from child support.	$ 100			$500 child support is excluded from income
	Example: Jesse had $100 of credit card interest and $1,000 of mortgage interest			$ (1,000)	$100 credit card interest is not deductible
	Example: Jessie had $3,000 of Schedule C business expenses and $1,500 of hobby expenses		$ (3,000)		Hobby expenses are not deductible
	To my friendly student tax preparer:
	Hello, my name is Shady Slim. I understand you are going to help me figure out my gross income for the year ... whatever that means (USE 2020 RULES and assume Shady files as a single person). Its been a busy year and Im a busy man, so let me give you the lowdown on my life and you can do your thing.
		Taxable Income	FOR AGI Deductions	FROM AGI Deductions	Explanation for anything excluded
f.	Speaking of the guys, one of them hit me with his car as we were leaving the game one night. He must have been pretty ticked that he lost! I broke my right leg and my left arm. I sued the guy and got $18,000 to pay for my out-of-pocket medical expenses, $5,000 to pay my psychotherapist for the emotional problems I had relating to the injuries (I got really depressed!), and $14,500 in punitive damages. Thatll teach him that hes not so tough without his car!