Bill and Alice Savage, husband and wife and both age 42, have the following transactions during 2019:

a. They sold their old on January 28, 2019, for $380, 000. The basis of their old residence, purchased in 2009, was $70000. The selling expenses were $20000. On May 17, purchased and moved into another residence costing $150000.

b. On April 28, 2019, they sold $8000 stock that Alice had received as a gift from her mother, who had purchase the stock for $10000 in 2014. Her mother gave Alice the stock on November 15, 2018, when the fair market value was $9400.

c. On May 24, 2019, Bill sold for $21000 stock inherited from his father. His father died on June 14, 2018, when the fair market value of the stock was $9000. Bill's father paid $7000.for the stock in 2012.

d. On August 11, 2019, they sold a personal automobile for $8000; basis of the automobile was $20000 and it was purchased in 2016.

e. They had a carryover and other stock transactions as follows:

LTCL carryover from 2018 ($7000)

STCG $2000

LTCG. $3500

Bill had a salary of $40000 and Alice had a salary of $28000. They have no children. They paid state income taxes of $6200, sales tax of $400, federal income taxes of $15000, and property taxes of $1700. In addition, they contributed $16000 to their church and paid $4000 interest on their home mortgage.

Compute Bill and Alice's taxable income for 2019.