Al Shalou, a single individual, had only $14,000 of salary income in 2017, but he had a number of taxable gains and losses on his property transactions during the year with the following results:

a. $26,000 Section 1202 gain on ABC stock

b. $5,000 short-term capital loss on Zephyr bonds

c. $24,000 long-term capital loss on Magnum stock

d. $13,000 Section 1245 recapture and $3,000 Section 1231 gain on equipment

e. $8,000 long-term capital loss on a coin collection

f. $6,000 Section 1231 loss on a machine g. $20,000 long-term capital gain on Jobe stock.

Calculate Shalou’s taxable income and his income tax liability for 2017.