Additionally, the couple sold the following assets during the year:

Asset	Purchased	Sold	Cost Basis	Sales Price	Gain/Loss
ABC Stock	1/1/2020	7/1/2020	$18,000	$25,000	$7,000
DEF Stock	1/1/2008	11/20/2020	$15,000	$10,000	($5,000)
Painting (collectible)	1/1/2005	7/15/2020	$5,000	$50,000	$45,000
GHI Stock	1/1/2010	9/1/2020	$18,000	$30,000	$12,000
Rental Property*	1/1/2005	1/1/2020	$75,000	$130,000	$55,000
JKL Stock	1/1/2015	10/1/2020	$10,000	$15,000	$5,000

*Unrecaptured Sec. 1250 gain = $27,000 (The $27,000 is included in the $55,000)

taxable income before gain 193,000