The answer to your question " whether it'd be worth it to do standard or itemized deduction" can only be determined by yourself and your wife.
Generally, the best way to make this decision is to prepare "test" returns using the standard deduction and then use itemized deduction. Once you have done this you can compare how each affects your tax situation and select the best methods for your situation.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
