Question

mr. and mrs. nedage are filing a joint tax return. while listing their deductions, they find that they can deduct $2,150 from medical bills, $826 from state taxes, $3,133 from charitable donations, and $1,331 from interest on their mortgage. the standard deduction for married couples filing jointly is $8,350. how does the standard deduction compare to the nedages deductions?
a. the nedages deductions are $1,740 better than the standard deduction.
b. the nedages deductions are $7,440 better than the standard deduction.
c. the standard deduction is $910 better than the nedages deductions.
d. the standard deduction is $9,260 better than the nedages deductions.
please select the best answer from the choices provided
a
b
c
d

Explanation:

Step1: Calculate total deductions

First, sum up all the Nedages' deductions: \(2150 + 826 + 3133 + 1331\)
\(2150+826 = 2976\)
\(2976+3133 = 6109\)
\(6109+1331 = 7440\)

Step2: Compare with standard deduction

The standard deduction is \(8350\). Now find the difference: \(8350 - 7440 = 910\)
This means the standard deduction is $910 better than their deductions.

Answer:

C. The standard deduction is $910 better than the Nedages’ deductions.