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Daniel, age 38, is single and has the following income and expenses in 2023: Salary income $57,000 Net rent income 15,500 Dividend income 2,900 Payment
Daniel, age 38, is single and has the following income and expenses in 2023: Salary income $57,000 Net rent income 15,500 Dividend income 2,900 Payment of alimony (divorce finalized in March 2021) 18,000 Mortgage interest on residence 7,000 Property tax on residence 3,700 Contribution to traditional IRA (assume the amount is fully deductible) 1,800 Contribution to United Church 1,100 Loss on the sale of real estate (held for investment) 700 Medical expenses 3,900 State income tax 2,700 Federal income tax 7,100 Daniel's standard deduction for 2023 is $13,850. Question Content Area a. Classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not deductible". Payment of alimony (divorce finalized in March 2021) Mortgage int
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