Question

Kevin’s standard deduction filing single is $5,800 for 2019. However, he paid $5,500 in mortgage interest and contributed $2,300 to charity. Should Kevin itemize or take his standard deduction?

What is the total amount that he can itemize?

Answer 1

Kevin should itemize instead of taking the standard deduction. The total amount that he can itemize is $7,800.

Step-by-step explanation:

To determine whether Kevin should itemize or take the standard deduction, we need to compare the total amount he can itemize to his standard deduction. The standard deduction for 2019 is $5,800. Kevin paid $5,500 in mortgage interest and contributed $2,300 to charity.

If Kevin itemizes, he can deduct the total amount of $5,500 for mortgage interest and $2,300 for charity, which adds up to $7,800. Since $7,800 is greater than $5,800, Kevin should itemize instead of taking the standard deduction. Therefore, the total amount that he can itemize is $7,800.