Question

Buddy and Hazel are ages 72 and 71 and file a joint return. If they have itemized deductions of $14,600 for 2017, they should not claim the standard deduction.

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Answer 1

Buddy and Hazel should claim itemized deductions because their itemized deductions amount is greater than the standard deduction for married couples filing jointly in 2017.

Step-by-step explanation:

Buddy and Hazel, who are ages 72 and 71 respectively, file a joint return. The standard deduction for married couples filing jointly in 2017 was $12,700. In this case, their itemized deductions amount to $14,600 which is greater than the standard deduction, so they should claim their itemized deductions instead of the standard deduction.

Their filing status and itemized deductions are the determining factors of whether they claim the standard deduction or not. In this case, since the itemized deductions are greater, they should claim the itemized deductions.