In 2018, Tom and Amanda Jackson (married filing jointly) have $200,000 of taxable income before considering the following events: (Use the dividends and capital gains tax rates and tax rate schedules.) a. On May 12, 2018, they sold a painting (art) for $110,000 that was inherited from Grandma on July 23, 2016. The fair market value on the date of Grandma's death was $90,000 and Grandma's adjusted basis of the painting was $25,000. b. They applied a long-term capital loss carryover from 2017 of $10.000. C. They recognized a $12,000 loss on the 11/1/2018 sale of bonds (acquired on 5/12/2008). d. They recognized a $4,000 gain on the 12/12/2018 sale of IBM stock (acquired on 2/5/2018). e. They recognized a $17,000 gain on the 10/17/2018 sale of rental property (the only $1231 transaction) of which $8,000 is reportable as gain subject to the 25 percent maximum rate and the remaining $9,000 is subject to the 0/15/20 percent maximum rates (the property was acquired on 8/2/2012). f. They recognized a $12,000 loss on the 12/20/2018 sale of bonds (acquired on 1/18/2018). g. They recognized a $7,000 gain on the 6/27/2018 sale of BH stock (acquired on 7/30/2009). h. They recognized an $11,000 loss on the 6/13/2018 sale of QuikCo stock (acquired on 3/20/2011). 1. They received $500 of qualified dividends on 7/15/2018 After completing the required capital gains netting procedures, what will be the Jacksons' 2018 tax liability? (Do not round intermediate calculations.) Answer is complete but not entirely correct. Total tax liability $ 43,710 Prey 1 of 4 Score answer >