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David is a college professor who does some consulting work

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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 is single and 63 years old. His AGI (without consideration of consulting income) is $45,000. Other informationfollows:

Income from consulting business

            $4,000

Consulting expenses other than home of?ce

            1,500

Total costs relating to home:

 

Interest and taxes

            6,500

Utilities

            1,500

Maintenance and repairs

            450

Depreciation (business part only)

            1,500

Calculate David's AGI:

Reference no: EM13390952

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