Using 2019 IRS forms and the information below, William is 53 and Joyce is 51. They are married. William is a manager for ABC Corporation, a firm that manufactures and distributes widgets. Joyce is a self-employed author of childrens books. The taxpayer wish to minimize their tax by deferring income and accelerating deductions when possible.

21. The taxpayers sold the following securities during the year. The selling price listed is net of brokerage commissions and represents the amount the taxpayers receive from the sale. Date Date Sold (all sales in current year) Sale Price Purchase Price Stock Acquired 150 shares Pfizer Corporation 5/12/90 8/15 $6,000 $7,500 50 shares Alcoa 6/10/07 10/23 $500 $2,000 25 shares Luminent 4/28/CY 9/4 $3,000 $1,000 60 shares Textron 9/11/CY 10/27 $10,000 $9,000