Question: 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.
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
$ comma
You are single, earned wages of
$ comma
and had deductible expenses of
$
for charitable contributions and
$
for state and local taxes.
Question content area bottom
Part
You should
for a savings of
$enter your response here
in taxable income.
Simplify your answer.
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