Seems roughly correct.
$85,000 of AGI after subtracting the $3,000 carryover loss would mean $70,400 of taxable income which means that the entire $23,000 increase in taxable income falls in the 22% tax bracket.
I assume that $23,000 is the taxable amount shown on the Form 1099-INT. The amount paid out would be the taxable amount plus the original investment in the bonds.
