2. Jake is married filing jointly and has AGI in 2018 of $200,000. He wants to know if he should itemize deductions in 2018. Jake has paid $20,000 in 2018 for mortgage interest for principal of $1 Million of a mortgage taken out on November 12, 2017. In 2018, Jake paid $13,000 in property taxes and gave $5,000 in cash gifts to charity. Should Jake itemize his deductions, and if so, what would his deduction be? Yes, Jake should itemize deductions and claim $35,000 on Schedule A in 2018 Yes, Jake should itemize deductions and claim $30,000 on Schedule A in 2018 Hias lalu mortgage interest for principal of $1 Million of a mortgage taken out on November 12, 2017. In 2018, Jake paid $13,000 in property taxes and gave $5,000 in cash gifts to charity. Should Jake itemize his deductions, and if so, what would his deduction be? Yes, Jake should itemize deductions and claim $35,000 on Schedule A in 2018 Yes, Jake should itemize deductions and claim $30,000 on Schedule A in 2018 No, Jake should not itemize deductions and claim $24,000 for standard MFI Not enough information was provided to itemize deductions