Phono preamp vs no phono preamp

I have a Kenwood KA-701 with 2 phono inputs. 1. Do I need a phono preamp? 2. If the answer is yes or maybe I would consider buying the Schiit Mani and would be hooking it up to a Project dc carbon.  3. What input on the Kenwood would I use?

Thank you
So far, based on what I'm reading, it almost falls into the category of if it ain't broke don't fix it.  I think I will use the preamp budget money and add it to the Tekton Lores that I would like to get. Thanks all
I've tried a couple of externals including schiit mani which is recommended and sounded very good w/my Nagaoka mp 110 cart. which I have on Audio Technica ATLP5. I recently got an Emotiva PA-100 preamp to match an Emotiva Bas-x A150 amp. I hooked up my mani and was getting hum but I think it was the cables: Monoprice. So I ran TT directly to phono pre-amp on PA-100 and I could hardly tell any difference except there was no hum. So I think I'll stick w/built in preamp on PA-100. As far as advising. there are a lot of variables and different combinations--it's a crapshoot.
Red is a high output moving magnet and will work fine. If you do buy an external phono pre, wire its output into Aux not into Phono.
Thank you for your advice. For clarity, I have a Project DC Carbon with a stock Ortofon Red cartridge/stylus.
Use either phono input. Just make sure you have a ground wire from your TT connected to the ground terminal on the back. For a cartridge I'd recommend a high-output mc - Dynavector or Hana.
The KA-701 has a phono stage with 2 inputs. Sensitivity is 2.5 mv. It will work well with MM and HOMC cartridges. No need for an external phono stage. Use it as is - it will sound fine!