10. Daniel, age 38, is single and has the following income and expenses in 2017...
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10. Daniel, age 38, is single and has the following income and expenses in 2017 (not 2018 Salary Income Net rent income Dividend income Payment of alimony Mortgage interest on residence Property tax on residence Contribution to traditional IRA Contribution to United Church Loss on the sale of real estate (held for investment) Medical Expenses State income tax Federal income tax $60,000 6,000 3,500 12,000 4,900 1,200 5,000 2,100 2,000 3,250 300 7,000 Using 2017 Tax rules: a. Calculate Daniel's AGI b. Should Daniel itemize his deductions from AGl or take the standard deduction Explain. d Mrs Bret Spencer traveled to Denver to attend a th
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