1. Mark, a calendar year taxpayer, purchased an annuity for $50,000 in 2022. The annuity was to pay him $3,000 on the first day of each year, beginning in 2022, for the remainder of his life. Mark's life expectancy at the time he purchased the annuity was 20 years. In 2024 Mark developed a deadly disease. and doctors estimated that he would live for no more than 24 months.

1. If Mark dies in 2025, a loss can be claimed on his final return for his unrecovered cost of the annuity.
2. If Mark dies in 2025, his returns for the two previous years can be amended to allocate the entire cost of the annuity to the years in which he received payments and reported gross income.
3. If Mark is still alive at the end of 2024, he is not required to recognize any gross income because of his terminal illness.
4. If Mark is still alive in 2044, his recovery of capital for that year is $500.

2. Tony, age 15, is claimed as a dependent by his grandmother. During 2023. he had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $900. Tony's taxable income is:

a. $1,900 - $1,300 = $600. b. $1,900.

c. $1,900 - $13,850 = SO.

d. $1,900 - $1,250 = $650.

3. In 2022, Taxpayer T invested $100,000 cash in a business ("B") in which T was a limited partner and did not materially participate. In 2022 B allocated $150,000 of losses to T. In 2022. T also had $100,000 of capital gains and $120,000 of passive income. What is T's AGI in 2022? a. $120,000

b. SO c. $ 100,000

d. $220,000

e. $70,000

please answe all ASAP