Question: 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 $44,250. Other information follows:

Income from consulting business $ 4,450

Consulting expenses other than home office 1,860

Total costs relating to home:

Interest and taxes 6,770

Utilities 1,680

Maintenance and repairs 540

Depreciation (business part only) 1,950

Required: Calculate Davids AGI. (Do not round intermediate calculations.) Using 2020 Tax Laws.

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