Walt and Skyler are married taxpayers. They received the following income in 2016:

$45,000 gain on the sale of illegal drugs

$5,000 gain on the sale of a state bond sold in 2016

$500 interest on savings account

$1,000 interest on federal bond

$1,000 interest on state government bond

What amount of income must Walt and Skyler include on their joint income tax return for 2016?