Decide whether you should itemize your deductions or take the standard deduction in the following case. State how much the better option will save you. Assume the standard deduction is $$12,550.$

Your filing status is single. Your deductible expenditures are $$6700$ for interest on a home mortgage, $$2300$ for contributions to charity, and $$2515$ for state and local taxes.

You should for a savings of $ in taxable income.

$($Simplify yoi

claim the standard deduction

itemize your deductions