Using the following facts, determine Jaron’s 2023 taxable income.

1. In November 2021, when his wife died, Jaron left the CPA firm he was working for and started his own practice so he could have more time to spend with his four children (ages 14, 16, 19, and 24 years old). The three younger children live at home with their father. Danny, Jaron’s 19-year-old son, graduated from high school a year ago and is currently working at a local golf course. Danny earned \($17,000\) in the current year. Jaron’s oldest daughter, Laura, is married and lives in town with her husband, Chad. Laura graduated from college two years ago and now works for a local advertising agency.

2. Jaron rents a small office downtown where he meets with clients and conducts business. He keeps all his client files and business records in this office. In the evening, he uses a converted bedroom in his home as his office. The following expenses are allocated to his home office (by square feet):

3. Jaron owns a condominium downtown. He rented it out 270 days during the year. He also allowed Laura and her husband to stay in the home rent-free for 24 days while they were looking for a home. Fortunately, the condominium was not rented during the time they needed it. The following items of annual income and expense relate to the condominium:

4. On April 6, Jaron sold a parcel of land he had held for investment to a real estate development firm for \($75,000.\) He purchased the land three years earlier from his brother for \($70,000.\) His brother had originally purchased the land for \($74,000\).
5. On May 1, Jaron purchased 1,000 shares in Genomics Ltd. for \($10\) per share. In December he was forced to sell all 1,000 shares at \($8\) per share to avoid a conflict of interest.

6. Jaron reported the following items of income and expense from his consulting practice:

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Depreciation Taxes Utilities $2,150 $1,500 ($3,600 for non-office portion of his home) $75