KJJJJDaniel, age 38, is single and has the following income and expenses in 2023:

Salary income	$195,000
Net rent income	12,500
Dividend income	2,900
Payment of alimony (divorce finalized in March 2021)	12,000
Mortgage interest on residence	8,300
Property tax on residence	2,100
Contribution to traditional IRA (assume the amount is fully deductible)	4,800
Contribution to United Church	1,100
Loss on the sale of real estate (held for investment)	2,200
Medical expenses	4,600
State income tax	2,700
Federal income tax	3,200

Daniel's standard deduction for 2023 is $13,850.

What is Daniel's gross income and his AGI? Gross income: _________ AGI: ___________

Question Content Area

b. Should Daniel itemize his deductions from AGI or take the standard deduction? Because Daniel's total itemized deductions (after any limitations) are ___________.

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