Jerry is single, age 60, and had adjusted gross income of $120,000 in 2020.

His itemized deductions (before any limitations) were as follows:

Medical expenses: $3,000

Charitable contributions: $1,500

Mortage interest on personal residence: $5,000

State income tax: $2,000

Real estate property tax: $2,500

The standard deduction in 2020 for single filers was $12,400

What is Jerry's taxable income?