1. Adjusted Gross Income

2. Taxable Income

3. Net Balance Due (Refund)

47. Mason Phillips, age 45 , and his wife, Alyssa, live at 230 Wood Lane, Salt Lake City, UT 84101. Mason's Social Security number is 111-11-1111. Alyssa's Social Security number is 123-45-6789. Mason and Alyssa are cash basis taxpayers and report the following items for 2022: - Salary of $140,000 - Collection of unpaid rent from a prior year of $6,000. - Rental income of $60,000 (not including prior year unpaid rent; the rental property is managed by the Phillips). - Rental expenses of \$33,000. - Uncollected rent (bad debts) of $4,000. - Casualty loss on rental property of $10,000. - Sale of $1244 stock resulting in a loss of $105,000. The stock was acquired eight months ago. - Personal casualty loss (from one event) of $3,000; not in a Federally declared disaster area. - Theft loss of $8,000 on a painting held for investment. - Other itemized deductions of $21,000. - Federal income tax withheld of $3,000