3. Louis files as a single taxpayer. In April of this year he received a $1,240 refund of state income taxes that he paid last year. How much of the refund, if any, must Louis include in gross income under the following independent scenarios? Assume the standard deduction last year was $6,300. (Leave no answer blank. Enter zero if applicable.)

b. Last year Louis had itemized deductions of $3,810 and he chose to claim the standard deduction. Louiss itemized deductions included state income taxes paid of $2,335.

Refund to be included ___?___

a. Last year Louis claimed itemized deductions of $6,396. Louiss itemized deductions included state income taxes paid of $2,335.

Refund to be included ___?___

5. Anne purchased an annuity from an insurance company that promised to pay her $12,000 per year for the next ten years. Anne paid $94,800 for the annuity, and in exchange she will receive $120,000 over the term of the annuity.

a. How much of the first $12,000 payment should Anne include in gross income? (Do not round intermediate calculations.)

Amount to be included ___?___

6. George and Weezy received $27,500 of Social Security benefits this year ($10,200 for George; $17,300 for Weezy). They also received $4,400 of interest from jointly owned City of Ranburne Bonds and dividend income. What amount of the Social Security benefits must George and Weezy include in their gross income under the following independent situations? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

a. George and Weezy file married joint and receive $7,950 of dividend income from stocks owned by George.

Amount to be included ___?___

7. Terry was ill for three months and missed work during this period. During his illness, Terry received $4,700 in sick pay from a disability insurance policy. What amounts are included in Terrys gross income under the following independent circumstances? (Leave no answer blank. Enter zero if applicable.)

a. Terry has disability insurance provided by his employer as a nontaxable fringe benefit. Terrys employer paid $2,080 in disability premiums for Terry this year.

Amount included ___?___

8. This year, Janelle received $240,000 in life insurance proceeds. Under the following scenarios, how much of the $240,000 is taxable? (Leave no answer blank. Enter zero if applicable.)

a. Janelle received the proceeds upon the death of her father, Julio.

Taxable amount ___?___

9. This year, Leron and Sheena sold their home for $665,000 after all selling costs. Under the following scenarios, how much taxable gain does the home sale generate for Leron and Sheena? (Leave no answer blank. Enter zero if applicable.)

a. Leron and Sheena bought the home three years ago for $100,000 and lived in the home until it sold.

Taxable gain ____?___

10.

Dontaes employer has offered him the following employment package.

Salary	$ 510,000
Health insurance	17,500
Dental insurance	1,150
Membership to Heflin Country Club	17,800
Season tickets to Atlanta Braves games	5,500
Tuition reimbursement for graduate courses	4,350
Housing allowance (for a McMansion in his neighborhood of choice)	39,000

What is Dontaes gross income from his employment?