During 2018, James, a single taxpayer incurred the following expenditures: Qualified medical expenses Student loan interest Charitable contributions (all cash) Qualified mortgage interest (on $200,000 debt) State income taxes withheld from paycheck Real Estate taxes paid on home Property taxes paid Federal income tax withheld from paycheck 8,000 ($1,000 of which were later reimbursed) 1,700 3,000 12,000 2,000 7,000 4,000 19,000 James also earned the following income: Salary Share of Partnership Income Inheritance $70,000 20,000 4,000 Compute James' taxable income and tax liability for the year. During 2018, James, a single taxpayer incurred the following expenditures: Qualified medical expenses Student loan interest Charitable contributions (all cash) Qualified mortgage interest (on $200,000 debt) State income taxes withheld from paycheck Real Estate taxes paid on home Property taxes paid Federal income tax withheld from paycheck 8,000 ($1,000 of which were later reimbursed) 1,700 3,000 12,000 2,000 7,000 4,000 19,000 James also earned the following income: Salary Share of Partnership Income Inheritance $70,000 20,000 4,000 Compute James' taxable income and tax liability for the year