Problem 6-34 (Algorithmic) (LO. 1) Daniel, age 38, is single and has the following income and expenses in 2020: Salary income $117,000 Net rent income 19,500 Dividend income 2,100 26,000 Payment of alimony (divorce finalized in March 2019) Mortgage interest on residence 8,300 Property tax on residence 2,200 Contribution to traditional IRA (assume the amount is fully deductible) 1,800 Contribution to United Church 900 Loss on the sale of real estate (held for investment) 1,950 Medical expenses 3,200 State income tax 1,800 Federal income tax 4,400 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". Payment of alimony (divorce finalized in March 2019) 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: $ 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