Question: Decide whether a person should itemize his deductions or take the standard deduction in the following case.: A person's deductible expenditures are $8500 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 $8500 for interest on a home mortgage, $2100 for contributions to charity, and $620 for state income taxes. His filing status entitles him to a standard deduction of $11 comma 900. Choose the correct answer below.
A. He should claim the standard deduction as it would deduct less money from his taxable income.
B. He should itemize his deductions as it would deduct less money from his taxable income.
C. He should itemize his deductions as it would deduct more money from his taxable income.
D. He should claim the standard deduction as it would deduct more money from his taxable income.
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