Question

Given the information provided, which of the following taxpayers is most likely to benefit by itemizing deductions on their 2024 return? Assume that none of the taxpayers are blind.

Sam (29) and Lucy (28), a married couple filing a joint return. Their allowable itemized deductions are $12,237.


Katie (38), who is unmarried and filing head of household. Her allowable itemized deductions are $17,316.


Anne (32), a single taxpayer with no dependents. Her allowable itemized deductions are $15,483.


Michael (67), a single taxpayer with no dependents. His allowable itemized deductions are $12,680.

Answer 1

Anne.

Reason: For 2024 the standard deductions are $29,200 for married filing jointly, $21,900 for head of household, and $14,600 for single. A taxpayer age 65+ gets an additional standard deduction (single +$1,950), so Michael’s standard would be $16,550.

- Sam & Lucy (MFJ): itemized $12,237 vs standard $29,200 → take standard.
- Katie (HOH): itemized $17,316 vs standard $21,900 → take standard.
- Anne (Single): itemized $15,483 vs standard $14,600 → itemizing yields a larger deduction.
- Michael (Single, 67): itemized $12,680 vs standard $16,550 → take standard.