In $2024,$ Tom and Amanda Jackson $($married filing jointly$)$ have $$205,000$ of

taxable income before considering the following events:

a$.$On May $12,2024,$ they sold a painting $($art$)$ for $$110,000$ that was inherited from

Grandma on July $23,2023.$ The fair market value on the date of Grandma$$s death

was $$90,000$ and Grandma$$s adjusted basis of the painting was $$25,000.$

b$.$ Applied a long$-$term capital loss carryover from $2023$ of $$10,000.$

c$.$ Recognized a $$12,000$ loss on $11/1/24$ sale of bonds $($acquired on $5/12/09).$

d$.$ Recognized a $$4,000$ gain on $12/12/24$ sale of IBM stock $($acquired on $2/5/24).$

e$.$ Recognized a $$17,000$ gain on the $10/17/24$ sale of rental property $($the only $1231$

transaction$)$ of which $$8,000$ is reportable as gain subject to the $25$ percent maximum

rate and the remaining $$9,000$ is subject to the $15$ percent maximum rate $($the

property was acquired on $8/2/11).$

f$.$ Recognized a $$12,000$ loss on $12/20/24$ sale of bonds $($acquired on $1/18/24).$

g$.$ Recognized a $$7,000$ gain on $6/27/24$ sale of BH stock $($acquired on $7/30/10).$

h$.$ Recognized an $$11,000$ loss on $6/13/24$ sale of QuikCo stock $($acquired on

$3/20/11).$

i$.$ Received $$500$ of qualified dividends on $7/15/24$