"Mason Phillips, age 45, and his wife, Ruth, live at 230 Wood Lane, Salt Lake City, UT 84101. Masons Social Security number is 111-11-1111. Ruths Social Security number is 123-45-6789. Mason and Ruth are cash basis taxpayers and had the following items for 2020:

Salary of $140,000.

Bad debt of $30,000 from uncollected rent."

" Collection of unpaid rent from a prior year "

"Sale of 1244 stock resulting in a loss of $105,000. The stock was acquired eight months ago.

Rental income of $60,000 (property is managed by Mason and Ruth).

Rental expenses of $33,000.

Casualty loss on rental property of $10,000.

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"

"Compute Mason and Ruths 2020 Federal income "