John and Charlotte are considering contributing $1,000 to their church.This contribution will bring their total itemized deductions to $2,000.Assuming they are in the 15% marginal tax bracket,how much will they save in taxes by contributing the $1,000 to their church?

Question

Quizplus · Accepted Answer

Since their total itemized deductions ($2,000) are less than the standard deduction, they will not benefit from itemizing, and thus will not save any taxes from the contribution.

John and Charlotte Are Considering Contributing $1,000 to Their Church