Ollie is single, 37 years old with a qualifying child (age 18). Ollie has wages of $70,650 and sold the following assets during the year: Investment land for $10,000 proceeds was purchased by Ollie in 2010 for $5,000 GE stock for $5,000 proceeds stock was purchased by Ollie in 2013 for $7,000 Walmart stock for $8,000 stock was inherited from Ollie's father in 2020 when the FMV was $6,000. Ollie's father had paid $1,000 for the stock in 1998. Calculate Ollie's 2020 tax liability assuming that he has $13,000 in itemized deductions.