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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 this $1,000 to their church?

Respuesta :

danialamin

Answer:

The savings for John and Charlotte will be 0.

Explanation:

As the marginal bracket of John and Charlotte are in the 15% marginal bracket here the itemized deductions are not effective thus there will be no saving on this contribution and the tax paid irrespective of the contribution to the church is same.

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