17. Greg and Lisa are married taxpayers. They are filing their tax return and ask you for help. They have already calculated their AGI at $100,000 the following expenditures: Medical expenses $5,000 Estimated state tax payments 7.500 Property taxes 4.000 Sales paid 2.000 Charitable Donations 2.500 Mortgage Interest (indebtedness $500,000). 8.900 You advise them they should A. They can claim total of $29,900 on Schedule A. B. They can claim total of $26,400 on Schedule A. C. They can claim total of $21,400 on Schedule A D. They can claim total of $21,900 on Schedule A E. They should take the standard deduction, which is higher than the itemized deduction amount Facts and information listed below is needed to resolve questions 18 through 19: In 2019, Jim exchanges real property in a like kind exchange. Jim receives real property with a fair market value of $78,000 and transfers a property with a fair market value of $70,000 and $8,000 in cash. Jim's adjusted basis in the property is $45,000. 18. What is Jim's realized and recognized gain? A. $33,000 Realized and $33,000 Recognized. B. $33,000 Realized and $0 Recognized. C. $33,000 Realized and $25,000 Recognized D. $33,000 Realized and $8,000 Recognized E. SO Realized and $25,000 Recognized 19. What is Jim's basis in the land that he receives? A. $8,000 B. $70,000. C. $78,000 D. $45,000 E. $62,000