The following information is available for the Albert and Allison Gaytor family in addition to that provided in Chapters 1–7.

Albert sold the following securities during the year and received a Form 1099-B that showed the following information:

The selling price given is net of sales commissions. In addition to the above amounts, the Grapefruit mutual fund distributed a long-term capital gain of $450 on December 30, 2016.

Albert purchased 5 acres of raw land in Reno, NV, 10 years ago. His basis in the land was $90,000. On August 1, 2016, he sold the land for $140,000 on the installment method. Albert received $58,800 in the year of sale, and the balance was payable at $8,120 per year for the next 10 years, plus a market rate of interest.

On May 15, 2016, Albert and Allison sold their personal residence for $585,150 and purchased a new house for $725,000. They had owned the old house for 20 years and it had an adjusted basis of $35,075. The house had been their personal residence for all the years they were married. They moved into the new house on May 18, 2016.

Required: Combine this new information about the Gaytor family with the information from Chapters 1–7 and complete a revised 2016 tax return for Albert and Allison. No AMT is payable. This completes the Group 5 multichapter case.