Calculate the taxpayer’s Gross Income using the following information:

Your cousin, Cheryl, who is 55 years old, is married to James, who is 66 years old. James lost his job 3 months ago. They have asked you for help in preparing their tax return and provided you with the following information:

Tax Information

Salary (Cheryl—75,000, James—70,000)$145,000

Unemployment compensation received 3,600

Interest on AT&T Bonds800

Interest on City of New Orleans Bonds1,300

Interest on a bank savings account600

Mau, Inc. (qualified dividend)100

Long-term capital gain8,000

Long-term capital loss(3,000)

Short-term capital gain5,000

Short-term capital loss(5,400)

James' slot machine winnings while in Vegas300

Contribution to flexible benefit plan by Cheryl500

Contribution by Cheryl to her employer's pension plan1,000