Based upon the following events that occurred during the year, determine that amount that T must include in gross income.

• T received cash compensation of $64,000
• T's employer paid health insurance premiums on their behalf in the amount of $4,250
• T's neighbor walked T's dog regularly in exchange for use of T's garage; the fair value of the garage rental was $1,200
• T's shares in XYZ, Inc. increased in value by $5,000; T did not sell the shares
• T received interest payments of $2,500 on a City of New York bond
• T received interest payments of $4,000 on a Coca-Cola Corporation bond
• T received a gift from their parents in the amount of $20,000
• T received an inheritance from their uncle in the amount of $7,000
• T received life insurance proceeds of $50,000 from a policy owned by and insuring the life of T's late uncle