Taylor had the following transactions for 2016:
Salary
$ 85,000
Moving expenses incurred to change jobs
(12,000)
Inheritance received from deceased uncle
300,000
Life insurance proceeds from policy on uncle's life (Taylor was named the beneficiary)
200,000
Cash prize from church raffle
3,000
Payment of church pledge
(4,500)
What is Taylor's AGI for 2016?
Correct Answer:
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