Question: David is a college professor who does some consulting work on the side. He uses 2 5 % of his home exclusively for the consulting

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 $44,750. Other information follows:
Income from consulting business$ 4,500Consulting expenses other than home office1,900Total costs relating to home:Interest and taxes6,800Utilities1,700Maintenance and repairs550Depreciation (business part only)2,000
Required:
Calculate Davids AGI.

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