4
AssignmentMultiple Choice

Taxes

Question 4 • * HSA 26-27 Economics

Jazmin is calculating their deductions for their tax return. They are filing singly. They can claim $1,813 from property taxes, $1,513 from medical expenses, and $761 from state income tax. The standard deduction for a single filer is $5,700. How does the standard deduction compare to Jazmin’s deductions?

Answer
A
Jazmin’s deductions are $1,437 more than the standard deduction.
B
Jazmin’s deductions are $2,087 less than the standard deduction.
C
The standard deduction is $1,613 more than Jazmin’s deductions.
D
The standard deduction is $664 less than Jazmin’s deductions.

Explanation

Jazmin’s deductions total $1,813 + $1,513 + $761 = $4,087. The standard deduction is $5,700, which is $5,700 − $4,087 = $1,613 more. Therefore, the correct choice is C: the standard deduction is $1,613 more than Jazmin’s deductions.

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