Problem 6-34 (LO. 1) Daniel, age 38, is single and has the following income and expenses in 2020: Salary income $60,000 6,000 3,500 12,000 9,900 Net rent income Dividend income Payment of alimony (divorce finalized in March 2019) Mortgage interest on residence Property tax on residence Contribution to traditional IRA (assume the amount is fully deductible) Contribution to United Church Loss on the sale of real estate (held for investment) Medical expenses 1,200 5,000 2.100 2,000 3,250 State income tax 300 Federal income tax 7,000 Daniel's standard deduction for 2020 is $12,400. In order to calculate Daniel's AGI, classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not Heductible Not deductible Payment of alimony (divorce finalized in March 2019) Mortgage interest on residence Property tax on residence Contribution traditional IRA (assume the amount is fully deductible) Contribution to United Church Loss on the sale of real estate (held for investment) Medical expenses Deductible from AGI Deductible from AGI Deductible for AGI Deductible from AGI Deductible for AGI State income tax Deductible from AGI Deductible from AGI Not deductible Federal income tax What is Daniel's gross income and his AGI? Gross income: $ 69,500 AGI: 5,000 X