Question: Daniel, age 3 8 , is single and has the following income and expenses in 2 0 2 4 : Salary income $ 6 5
Daniel, age is single and has the following income and expenses in : Salary income $ Net rent income Dividend income Payment of alimony divorce finalized in March 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 What is Daniel's gross income and his AGI? Should Daniel itemize his deductions from AGI or take the standard deduction? Explain: Deductions for AGI: Adjusted gross income Itemized deductions: Total itemized deductions
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