Given the following information, complete the 2020 Schedule A Form for Mindy and Mork Ork.
- Mindy and Mork have Adjusted Gross Income of $96,000 (Line 7) and one dependent who is a qualifying child Alf Ork.
- Personal spending in 2020:
- Eyeglasses and exams for Alf: $560.
- Orthodontic work for Alf to correct a small palette: $2,800.
- Medical insurance premiums withheld from Morks paycheck before taxes: $2,600.
- Withholding from paychecks for state income taxes: $4,800. A refund will be issued for the state return in the amount of $1,600.
- Withholding from paychecks for federal income taxes: $8,700.
- Mortgage interest on their personal principle residence: $9,200 ($250,000 of acquisition debt).
- Real estate taxes on their personal principle residence: $2,900.
- Cash contributions to their church, with substantiation: $2,100.
- Property taxes paid when licensing their vehicles: Total $500, ($30 state flat fee, difference is ad valorem).
- Interest paid on their personal vehicle loans: $410.
- Other medical expenses paid out-of-pocket to doctors and hospitals for bona fide visits for medical issues: $7,200.
- Tax preparation fees: $300.
- Unreimbursed employee expenses for Mindy: $1,200.
Should the Orks use their aggregated itemized deductions or the standard deduction on their 1040 for 2020?
SCHEDULE A Itemized Deductions OMD NO. 1545-0074 Form 1040 or 1040-SRI Go to www.irs.gov/Schedule for instructions and the latest Information. 2020 iflev January 20201 Attach to Form 1040 or 1040-SR. Deporte Treasury Ina Raveri Caution: If you are claiming a netquified disaster loss on Form 4084, see the instructions for line 16 Nam shown on Form 1040 1040-5R Your society umber Medical and Dental Expenses Taxes You Pald Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (e instructions) 1 2 Enter amount from Form 1010 or 1040-SR, the Bb | 21 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line from line 1. If line 3 is more than line 1. enter-O- 5 State and local taxes. a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. you elect to include general sales taxes instead of income taxes, check this box O 50 b State and local real estate taxes (see instructions) Sb e State and local personal property taxes 60 d Add lines 5a through 5c 5d .Enter the smaller of line 5d or $10.000 ($5,000 i married filing separately) 5e 6 Other taxes. List type and amount 6 7 Add lines 5e and 6 8 Home mortgage Interest and points. If you didn't be all of your home mortgage loan(s) to buy. build or improve your home.se instructions and check this box a Home mortgage interest and points reported to you on Form 1098 See instructions if limited Ba b Home mortgage Interest not reported to you on Form 1098. See instructions if limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no.. and address Interest You Paid Cautions Your mortgage interest deduction may be mited instruction 8b c Points not reported to you on Form 1098. See instructions for special rules 8c d Mortgage Insurance premiums (see instructions) Bd e Add lines Ba through 8d Be 9 Investment interest. Attach Form 4952 if required. See instructions 9 10 Add lines Be and 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions 11 Caution you 12 Other than by cash or check you made any gift of $250 or more made a gland got a benefit for see instructions. You must attach Form 8283 if over $500 12 so instructions 13 Carryover from prior year 13 14 Add lines 11 through 13 Casualty and 15 Casualty and theft lossles) from a federally declared disaster fother than net qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Other from list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column lines 4 through Also, enter this amount on Itemized Form 1040 or 1040-SR, line 9 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction check this box For Paperwork Reduction Act Notice, see the instructions for Forms 1040 and 1040-SR. Cat No. 171450 Schedule A Form 1040 or 1040-SR, 2019 SCHEDULE A Itemized Deductions OMD NO. 1545-0074 Form 1040 or 1040-SRI Go to www.irs.gov/Schedule for instructions and the latest Information. 2020 iflev January 20201 Attach to Form 1040 or 1040-SR. Deporte Treasury Ina Raveri Caution: If you are claiming a netquified disaster loss on Form 4084, see the instructions for line 16 Nam shown on Form 1040 1040-5R Your society umber Medical and Dental Expenses Taxes You Pald Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (e instructions) 1 2 Enter amount from Form 1010 or 1040-SR, the Bb | 21 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line from line 1. If line 3 is more than line 1. enter-O- 5 State and local taxes. a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. you elect to include general sales taxes instead of income taxes, check this box O 50 b State and local real estate taxes (see instructions) Sb e State and local personal property taxes 60 d Add lines 5a through 5c 5d .Enter the smaller of line 5d or $10.000 ($5,000 i married filing separately) 5e 6 Other taxes. List type and amount 6 7 Add lines 5e and 6 8 Home mortgage Interest and points. If you didn't be all of your home mortgage loan(s) to buy. build or improve your home.se instructions and check this box a Home mortgage interest and points reported to you on Form 1098 See instructions if limited Ba b Home mortgage Interest not reported to you on Form 1098. See instructions if limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no.. and address Interest You Paid Cautions Your mortgage interest deduction may be mited instruction 8b c Points not reported to you on Form 1098. See instructions for special rules 8c d Mortgage Insurance premiums (see instructions) Bd e Add lines Ba through 8d Be 9 Investment interest. Attach Form 4952 if required. See instructions 9 10 Add lines Be and 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions 11 Caution you 12 Other than by cash or check you made any gift of $250 or more made a gland got a benefit for see instructions. You must attach Form 8283 if over $500 12 so instructions 13 Carryover from prior year 13 14 Add lines 11 through 13 Casualty and 15 Casualty and theft lossles) from a federally declared disaster fother than net qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Other from list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column lines 4 through Also, enter this amount on Itemized Form 1040 or 1040-SR, line 9 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction check this box For Paperwork Reduction Act Notice, see the instructions for Forms 1040 and 1040-SR. Cat No. 171450 Schedule A Form 1040 or 1040-SR, 2019
