7
QuizMultiple Choice

Income Taxes — Quiz

Question 7 • Financial Math

Mordche wants to itemize his deductions instead of taking the standard deduction. Which form will he need to use?

Answer
A
1099
B
Schedule A
C
Schedule B
D
1040

Explanation

To itemize deductions, Mordche must list eligible expenses such as mortgage interest, charitable gifts, or certain medical expenses on Schedule A. He then uses the total from Schedule A on his Form 1040. Schedule B is for reporting interest and ordinary dividends, while Form 1099 reports certain types of income.

AI-written and checked against the verified answer.

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