Wendy and Tom are married and will file a joint tax return. They are allowed, by the government, a standard deduction of $24,800. They completed Schedule A and their itemized deductions came to $22,000. Which deduction amount should they use when preparing their tax return? O Not enough information to answer O Neither the standard deduction nor the itemized deduction O The itemized deduction O The standard deduction
Wendy and Tom are married and will file a joint tax return. They are allowed, by the government, a standard deduction of $24,800. They completed Schedule A and their itemized deductions came to $22,000. Which deduction amount should they use when preparing their tax return? O Not enough information to answer O Neither the standard deduction nor the itemized deduction O The itemized deduction O The standard deduction
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 26P
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Transcribed Image Text:Wendy and Tom are married and will file a joint tax return. They are
allowed, by the government, a standard deduction of $24,800. They
completed Schedule A and their itemized deductions came to $22,000.
Which deduction amount should they use when preparing their tax
return?
O Not enough information to answer
O Neither the standard deduction nor the itemized deduction
O The itemized deduction
O The standard deduction.
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