Jack and June are retired and receive $10,000 of social security benefits and taxable pensions totaling $25,000. They have been offered $20,000 for...

Jack and June are retired and receive $10,000 of social security benefits and taxable pensions totaling $25,000. They have been offered $20,000 for an automobile that they restored after they retired. They did most of the restoration work themselves and the sale will result in a gain of $12,000. What tax issues should Jack and June consider? Try to provide an option that is not already stated by a classmate. Remember to include proper citations if you are citing the textbook or other sources.