Theresa and Oliver,married Filing Jointly,and Both Over 65 Years of Age,have

Essay

Theresa and Oliver,married filing jointly,and both over 65 years of age,have no dependents.Their 2014 income tax facts are:
$\begin{array}{lr}\text { Theresa's wages } & \$ 165,000 \\\text { Oliver's wages } & 33,000 \\\text { Short-term capital gain } & 36,000 \\\text { Long-term capital loss } & (41,000)\end{array}$
$\text { What is their taxable income for } 2014 \text { ? }$