4. Marsha is filing her federal income tax return with the Single filing status. She had an adjusted gross income of $56,800 last year and is trying to decide whether to take the standard deduction of

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4. Marsha is filing her federal income tax return with the Single filing status. She had an adjusted gross income of $56,800 last year and is trying to decide whether to take the standard deduction of $5700 or to itemize deductions. Last year she had $4900 in medical expenses, $3100 in state and local income taxes paid, $1940 in mortgage interest paid, $530 in charitable contributions, and $1200 in non-reimbursed work expenses. (7 points: Part I – 1 point; Part II – 2 points; Part III – 1 point; Part IV – 1 point; Part V – 2 points)

Part I: If medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer’s AGI, how much will Marsha be able to deduct for medical expenses if she itemizes deductions?

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