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Problem 6 - 3 4 ( L 0 . 1 ) Daniel, age 3 8 , is single and has the following income and expenses
Problem L
Daniel, age is single and has the following income and expenses in :
tableSalary income,$
Daniel's standard deduction for is $
a In order to calculate Daniel's AGI, classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not deductible".
Payment of alimony divorce finalized in March Not deductible
Mortgage interest on residence
Property tax on residence
Contribution to traditional IRA assume the amount is fully deductible
Contribution to United Church
Loss on the sale of real estate held for investment
Medical expenses
State income tax
Federal income tax
What is Daniel's gross income and his AGI?
Gross income: $
AGI: $
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