Taylor Had the Following Transactions for 2017 What Is Taylor's AGI for 2017

question 67

Essay

Taylor had the following transactions for 2017: $\begin{array}{lc}\text { Salary } & \$ 85,000 \\\text { Moving expenses incurred to change jobs } & (12,000) \\\text { Inheritance received from deceased uncle } & 300,000 \\\text { Life insurance proceeds from policy on uncle's life (Taylor was named the beneficiary) } & 200,000 \\\text { Cash prize from church raffle } & 3,000 \\\text { Payment of church pledge } & (4,500)\end{array}$ What is Taylor's AGI for 2017?

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Definitions:

Colbert

Jean-Baptiste Colbert was a French politician who served as the Minister of Finances of France under King Louis XIV, known for his policies that promoted mercantilism and the development of French industries.

French West Indies

Refers to the French-speaking Caribbean islands, including Martinique and Guadeloupe, part of France's overseas regions and known for their cultural blend of French and Caribbean influences.

Fur Trade

The trading of animal pelts (especially beaver skins) driven by the demand for hats and other clothing items in Europe and North America.

Iroquois

The federation of six Native American nations, originally in the northeastern United States, known for their political union and significant cultural contributions.