Victor and Lorraine, ages $45$ and $47,$ respectively, are married and are cash basis taxpayers. They had the following tax items for $2022$:

Salaries of $$61,000$

Bad debt of $$3,000$ from uncollected rent

Collection of unpaid rent from a prior year of $$4,000$

Rental income of $$60,000($property is managed by Victor and Lorraine $-$ does not include collection from above$)$

Rental expenses of $$53,000($does not include bad debt above$)$

Personal casualty loss $($from one event; a flood after a storm$)$ of $$2,000$; not in a Federally declared disaster area.

Other itemized deductions of $$21,000.$

There is not enough information to know if they are eligible to deduct the Qualified Business Income credit, so ignore this for now.

They wish to file as married filing jointly. Calculate the following:

Adjusted Gross Income $($Hint: calculate the net rental income first$).$

Taxable income