Mr. and Mrs. Smith are filing a joint tax return. While listing their deductions, they find that they can deduct $2,500 from medical bills, $1,200 from state taxes, $4,000 from charitable donations, and $2,000 from interest on their mortgage. The standard deduction for married couples filing jointly in 2023 is $27,700 How does the standard deduction compare to the Smiths' deductions?