Question: content area top Part 1 Decide whether you should itemize your deductions or take the standard deduction in the following case. State how much the

content area top Part 1 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 $12550. Your filing status is single. Your deductible expenditures are $5500 for interest on a home mortgage, $2400 for contributions to charity, and $2825 for state and local taxes

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