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In 2020, the standard deduction is:For single or married filing separately — $12,400For married filing jointly or qualifying widow(er) — $24,800For head of household — $18,650Calculate the total deductions for each person below. Then determine whether each individual would benefit from itemized deductions or the standard deduction.1) James is single and has an adjusted gross income of $40,000.CategoriesExpensesDeductions (show all work)Medical Expenses5000State and Local Tax500Mortgage Interest1200Charitable Contributions200Nonreimbursed Work Expenses1000Itemized deduction or standard deduction?2) Jessica is head of household and has an adjusted gross income of $65,000.CategoriesExpensesDeductions (show all work)Medical Expenses6000State and Local Tax2000Mortgage Interest5000Charitable Contributions7000Nonreimbursed Work Expenses1500Itemized deduction or standard deduction?3) Jack and Jill are married filing jointly with an adjusted gross income of $95,000.CategoriesExpensesDeductions (show all work)Medical Expenses15000State and Local Tax2500Mortgage Interest7200Charitable Contributions10000Nonreimbursed Work Expenses300Itemized deduction or standard deduction?4) Which of the following is an?adjustment?allowed by the IRS? (select more than one)Work expensesMedical expensesMoving expensesIRA contributions5) Which of the following is?not?an itemized deduction?Student loan interestNonreimbursed work expensesCharitable contributionsDental expenses6) Maya’s monthly mortgage payment was $1200 last year, and on average, 11% of each payment was interest. If Maya itemizes deductions on her federal income tax return, how much can she deduct for mortgage interest?7) Jose had an AGI of $25,000. He had $2800 in medical expenses, paid $6000 in rent, and had to buy a new uniform for work, which was not reimbursed by his employer. Which expense(s) can he itemize on his tax return?Mortgage interest onlyNonreimbursed work expenses, mortgage interest and medical expensesMortgage interest and medical expensesMortgage interest and medical expenses ................
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