Fred and Wilma are married and each aged 67 years, with no dependents. Their income and expenses are listed below.

Compute their tentative minimum tax for 2016

Salaries $150,000

Interest Income State Bank 1,500

Interest Income private activity bonds (issued 2013) 20,000

Gambling income 3,000

Dividend income (not qualified dividends) 2,000

Medical expenses (before AGI floor) 13,000

Gambling losses 6.000

State income taxes 3,500

Mortgage interest on home 4,600

Investment interest expense 2,100

Real estate taxes 3,200