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Check my work Comprehensive Problem 5 - 8 6 ( LO 5 - 1 , LO 5 - 2 , LO 5 - 3 )

Check my work
Comprehensive Problem 5-86(LO 5-1, LO 5-2, LO 5-3)(Algo)
[The following information applies to the questions displayed below.]
Ken is 63 years old and unmarrled. He retired at age 55 when he sold his business,
Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer.
a. Ken won $1,260 in an Illegal game of poker (the game was played In Utah, where gambling is Illegal).
b. Ken sold 1,060 shares of stock for $32 a share. He inherited the stock two years ago. HIs tax basis (or investment) In the stock was $31 per share.
c. Ken recelved $25,600 from an annulty he purchased elght years ago. He purchased the annulty, to be pald annually for 20 years, for $215,040.
d. Ken recelved $13,150 in disability benefits for the year. He purchased the disability Insurance policy last year.
e. Ken decided to go back to school to learn about European history He recelved a $560 cash scholarship to attend. He used $330 to pay for his books and tultion, and he applied the rest toward his new car payment.
f. Ken's son, Mike, Instructed his employer to make half of his final paycheck of the year payable to Ken as a gift from Mike to Ken. Ken recelved the check on December 30 in the amount of $1,190.
g. Ken recelved a $640 refund of the $3,660 in state Income taxes his employer witheld from his pay last year. Ken claimed $13,060 in Itemized deductions last year (the standard deduction for a single filer was $12,950)
h. Ken recelved $30,600 of interest from corporate bonds and money market accounts.
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