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Oscar and Ruth file a joint return for 2023. Their only valid itemized deduction is...

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Accounting

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Oscar and Ruth file a joint return for 2023. Their only valid itemized deduction is a charitabie contribution of $30.000 to the American Cancer Society. They want to know if they should claim the standard deduction or itemize their deductions. (The standard deduction amount for married filing jointly for 2023 is $27,700.) They cannot itemize their deductions because they only have one category of itemized deductions They should itemize their deductions because it exceeds the standard deduction for 2023 They should claim the standard deduction because married taxpayers can claim a double standard of $27,700 for each spouse It does not make a difference because itemized deductions for 2023 is limited to the $27,700 standard deduction

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