PI:8-47 (similar to) During 2019, Dan incurs the following deductible expenses: $2,900 in state income taxes, $2,400 in local property taxes, $2,800 in medical expenses, and $3,500 in charitable contributions. Dan is 33, single, has no dependents, and has $32,000 AGI for the year. (Click the icon to view the standard deduction schedule and tax information.) Requirement What is the amount of Dan's taxable income? Begin by calculating the itemized deductions. (Complete all input fields. Enter a "o" if there is no deduction for excess medical expenses.) Medical expenses Minus: Excess medical expenses Total itemized deductions $ $ $ $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses 24,400 Heads of households 18,350 Unmarried individuals (other than surviving spouses and heads of households) 12,200 Married individuals filing separate returns 12,200 Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses $1,300* Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse $1,650* Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. Note: At the time the book was printed, the percentage of AGI was 10% for 2019. In Dec. 2019, the rate changed to 7.5% 10% was used for this