Question: Decide whether a person should itemize his deductions or take the standard deduction in the following case. A person's deductible expenditures are $8800 for interest
Decide whether a person should itemize his deductions or take the standard deduction in the following case.
A person's deductible expenditures are $8800 for interest on a home mortgage, $2800 for contributions to charity, and $679 for state income taxes. His filing status entitles him to a standard deduction of $11 comma 700.
Choose the correct answer below.
A. He should itemize his deductions as it would deduct more money from his taxable income.
B. He should claim the standard deduction as it would deduct less money from his taxable income.
C. He should claim the standard deduction as it would deduct more money from his taxable income.
D. He should itemize his deductions as it would deduct less money from his taxable income.
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