Paul, a calendar year single taxpayer, has the following information for 2018:
Paul's allowable itemized deductions for 2018 are:
A) $10,000.
B) $16,800.
C) $39,200.
D) $42,200.
E) None of the above.

Question

Paul, a calendar year single taxpayer, has the following information for 2018: 
Paul's allowable itemized deductions for 2018 are:
A) $10,000. 
B) $16,800. 
C) $39,200. 
D) $42,200. 
E) None of the above.

Quizplus · Accepted Answer

Based on the information given, we cannot accurately calculate Paul's allowable itemized deductions. However, we do know that the standard deduction for a single taxpayer in 2018 was $12,000. If Paul's itemized deductions are less than $12,000, he would take the standard deduction. If his itemized deductions are more than $12,000, he would itemize. Therefore, the maximum possible answer choice would be the difference between Paul's itemized deductions and the standard deduction, which is $16,800 (=$28,800-$12,000).

Paul, a Calendar Year Single Taxpayer, Has the Following Information