Question
Penelopes AGI was $100,000. She has deductible medical expenses of $30,000. Her spouse is unemployed. If Penelope will file jointly in 2022, which of the
Penelopes AGI was $100,000. She has deductible medical expenses of $30,000. Her spouse is unemployed. If Penelope will file jointly in 2022, which of the following statements is most accurate?
1. | Penelope will benefit by itemizing her deductions if she has qualified charitable contributions in excess of $3,400 | |
2. | None of the choices | |
3. | Penelope will benefit by taking a standard deduction | |
4. | Penelope will benefit by itemizing her deductions if she has hobby expenses of $5,000. | |
5. | Penelope will benefit by itemizing her deductions if she has federal income tax payments in excess of $3,400 |
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