Daniel is single and has the following income and expenses in 2011: Salary income: $60000...
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Daniel is single and has the following income and expenses in 2011: Salary income: $60000 Net rent income $6000 Dividend income $3500 Payment of alimony $12000 Mortgage interest on residence $4900 Property tax on residence $1200 Contribution to traditional IRA $5000 Contribution to United Church $2100 Loss on the sales of real estate (held for investment) $2000 Medical expenses $3250 State income tax $300 Federal income tax $7000 a. Calculate Daniel
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