Discussion Question $3-5($LO$.2)$

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In choosing between taking the standard deduction and itemizing deductions from AGI, what effect, if any, does each of the following have?

a$.$ The age of the taxpayer$($s$).$

The age of the taxpayer

if the taxpayer is age $65$ or older.

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b$.$ The health $($i$.$e$.,$ physical condition$)$ of the taxpayer.

If the taxpayer is blind,

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c$.$ Whether taxpayers rent or own their residence.

If the taxpayer is still making house payments, the interest deduction may make

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d$.$ Taxpayer's filing status $($e$.$g$.,$ single, married, filing jointly$).$

Because the amount of the

varies depending on filing status, this factor is highly relevant to the decision.

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e$.$ Whether married taxpayers decide to file separate returns.

If married persons file separate returns and one spouse itemizes, the other spouse

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f$.$ The taxpayer's uninsured personal residence that was recently destroyed by a wildfire $($the region was declared a disaster area by the Federal government$).$

Because a large casualty loss seems probable,

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g$.$ The number of dependents the taxpayer can claim.

The number of dependents

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