So my wife and I want to do married filing separately (due to keeping her student loan payments low). I paid for a procedure for her which is covered under Medical Expenses. My question relates to whether it'd be worth it to do standard or itemized deduction. I understand the standard deduction is 12550 for someone married filing separately.
The part where I get confused is where I see that if I itemize the medical expenses then that means her deduction is 0 (is this true?). I'd be able to itemize deductions of $24,500, and she'd have nothing to itemize.
So should I itemize my deductions, or should we just both take the standard deduction of 12550 each (b/c 12550 x 2 is greater than 24500 + 0)?
Thanks.
