Suppose that in the past year your only deductible expenses were $2000 in mortgage interest and $5000 in charitable contributions. If you are entitled to a standard deduction of $6100, then the maximum total deduction you can claim is how much? Choose the correct answer below. O A. $6100, because that is the sum of the deductible expenses O B. $6100, because that is the standard deduction OC. $7000, because that is the sum of the deductible expenses O D. $13,100, because that is the sum of the deductible expenses and the standard deduction O E. S7000, because that is the product of the deductible expenses OF. $13,100, because that is the product of the deductible expenses and the standard deduction
Suppose that in the past year your only deductible expenses were $2000 in mortgage interest and $5000 in charitable contributions. If you are entitled to a standard deduction of $6100, then the maximum total deduction you can claim is how much? Choose the correct answer below. O A. $6100, because that is the sum of the deductible expenses O B. $6100, because that is the standard deduction OC. $7000, because that is the sum of the deductible expenses O D. $13,100, because that is the sum of the deductible expenses and the standard deduction O E. S7000, because that is the product of the deductible expenses OF. $13,100, because that is the product of the deductible expenses and the standard deduction
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 34P
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Transcribed Image Text:Suppose that in the past year your only deductible expenses were $2000 in mortgage interest and $5000 in charitable contributions. If you are entitled to a standard deduction of $6100, then the maximum total deduction you can claim is how much?
Choose the correct answer below.
O A. $6100, because that is the sum of the deductible expenses
O B. $6100, because that is the standard deduction
OC. $7000, because that is the sum of the deductible expenses
O D. $13,100, because that is the sum of the deductible expenses and the standard deduction
O E. S7000, because that is the product of the deductible expenses
O F. $13,100, because that is the product of the deductible expenses and the standard deduction
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