You are trying to decide whether to use the $12,200 standard deduction or your itemized deductions (Schedule A) on your Form 1040, Line 9. Here is your information:

Adjusted Gross Income $40,000

Medical Expenses

$15,000

Interest on Student Loan $2,000

Interest on Home Mortgage $3,000

State and Local Income Taxes Paid $1,500

Charitable Gifts (in total) $1,000

Which deduction should you choose?

A

Itemized Deduction of $17,500

B.

Itemized Deduction of $10,500

C.

Itemized Deduction of $22,500

D.

Standard Deduction of $12,200