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Naomi received an invoice from (a law firm) for $5,000 the following services performed in 2022:

Naomi received an invoice from (a law firm) for $5,000 the following services performed in 2022:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Naomi received an invoice from T&L LLC (a law firm) for $5,000 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 . Her rental income was $1,000 . $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 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. Jill 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?
Transcribed Image Text:Naomi received an invoice from T&L LLC (a law firm) for $5,000 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 . Her rental income was $1,000 . $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 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. Jill 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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