Ian, a single individual, had the below items in 2020. The standard deduction for a single individual
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Ian, a single individual, had the below items in 2020. The standard deduction for a single individual in 2020 is $12,400. Calculate Ian's AGI and his Taxable Income.
| Wages | $104,000 |
| Medical expenses | $10,000 |
| Charitable contribution to the University of Minnesota | 1,200 |
| Real estate tax on Minnesota residence | 3,800 |
| Minnesota income tax withheld during 2020 | 7,900 |
| Contribution to Health Savings Account | 2,500 |
| Real estate tax on a vacation home | 1,300 |
| State sales tax | 2,300 |
| Student Loan interest | 1,500 |
| Contribution to Roth IRA | 3,000 |
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