question archive Marsha is filing her federal income tax return with the Single filing status

Marsha is filing her federal income tax return with the Single filing status

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Marsha is filing her federal income tax return with the Single filing status. She had an adjusted gross income of $56,800 last year and is trying to decide whether to take the standard deduction of $5700 or to itemize deductions. Last year she had $4900 in medical expenses, $3100 in state and local income taxes paid, $1940 in mortgage interest paid, $530 in charitable contributions, and $1200 in non-reimbursed work expenses.

If medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer's AGI, how much will Marsha be able to deduct for medical expenses if she itemizes deductions?

 

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