Janice, age 22, is a student who earns $10,000 working part-time at the col- lege ice cream shop in 2015. She...

Janice, age 22, is a student who earns $10,000 working part-time at the col-

lege ice cream shop in 2015. She has no other income. Her medical

expenses for the year total $3,000. During the year, she suffers a casualty loss of

$3,500 when her apartment catches on fire. Janice contributes $1,000 to her

church. On the advice of her parents, Janice is trying to decide whether to contrib-

ute $1,000 to the traditional IRA her parents set up for her. What effect would the

IRA contribution have on Janice’s itemized deductions?