Assignment:
Assume someone is married, combined they make $45,000, and own a house that they owe $100,000. They give 10% of their income to charity, pay 5.5% interest on their mortgage, and had $2,300 in medical expenses. Would they be better off to use the standard deduction or itemize. Read the information in your notes and at WorldWideWebTax to decide. Make sure that you show your work on each circumstance and the overall benefit of standard versus itemizing.