Deductions:- Emily and Paul are married and filed a joint return for 2012. The standard deduction for their filing status is $11,900. They have the following itemized deductions:
Medical bills above the 7.5% limit |
$400 |
Mortgage interest |
3,500 |
State income taxes |
1,500 |
Charitable contributions |
250 |
Should Emily and Paul itemize their deductions or use the standard deduction?