Problem 6-34 (LO. 1) Daniel, age 38, is single and has the following income and expenses in 2016: Salary income $60,000 Net rent income 6,000 Dividend income 3,500 Payment of alimony 12,000 Mortgage interest on residence 4,900 Property tax on residence 1,200 contribution to traditional IRA (assume the amount is fully deductible) 5,000 K Contribution to United Church 2,100 Loss on the sale of real estate (held for investment) 2,000 Medical expenses 3,250 State income tax 3000 Federal income tax 7,000 Daniel's standard deduction for 2016 is $6,300 his personal exemption is $4,050 and