If you print Form 1040 & Schedule A from the IRS site (see the Web Work) it will help with this question. A SINGLE person
If you print Form 1040 & Schedule A from the IRS site (see the Web Work) it will help with this question. A SINGLE person is qualified to take a $12,200 standard deduction in 2019. The medical limitation is 7.5% in 2019. He/she has adjusted gross income of $100,000 and the following items:
Qualifying medical expenses = $11,000
Home mortgage interest = $10,000 (the mortgage is less than $750,000)
Property taxes = $2,000
Gifts to charity = $1,000
With respect to their deductions on Schedule A:
Group of answer choices
a. Their itemized deductions are $24,000, thus they should use Schedule A.
b. They must itemized since they have mortgage interest.
c. Their itemized deductions are $24,000, thus they should use the standard deduction.
d. Their itemized deductions are $16,500, thus they should use the standard deduction.
e. Their itemized deductions are $16,500, thus they should use Schedule A..
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