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Problem 6-34 (Algorithmic) (LO. 1) Daniel, age 38 , is single and has the following income and expenses in 2020: Daniel's standard deduction for 2020
Problem 6-34 (Algorithmic) (LO. 1) Daniel, age 38 , is single and has the following income and expenses in 2020: Daniel's standard deduction for 2020 is $12,400. a. Classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not deductible". What is Daniel's gross income and his AGI? Gross income: 4 AGI: $ b. Should Daniel itemize his deductions from AGI or take the standard deduction? Because Daniel's total itemized deductions (after any limitations) are he would benefit from
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