John and Amy Turner, married filing jointly, are both 36 years of age. They have two sons and a daughter. John and Amy have earned income of $93,500 and $58,300 respectively, and their allowable itemized deductions are $26,400. They had the following transactions during 2019:

a. On March 31, 2019, they sold their personal residence for $160,000. Their basis in the residence was $108,000. Six months later, they purchased a new residence for $130,000, They had incurred $6,000 of selling expenses.

b. Amy exchanged land obtained before the marriage for an office building. She had a basis in the land, which was worth $100,000, of $50,000. The office building was worth $105,000.

c. John sold property for $45,000. He had inherited the property from an aunt who had an adjusted basis of $10,000 in the property. The property was worth $30,000 at the time of the aunt's death.

d. John and Amy sold stock which they had received as a wedding present. The donor had an adjusted basis of $8,000 in the stock. The stock was worth $12,000 at the time of the gift. John and Amy received $10,000 for the stock.

Compute John and Amy’s lowest taxable income. Treat all income as ordinary income.