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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

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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 unmarried. 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 $1,700 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. Ken sold 1,500 shares of stock for $32 a share. He inherited the stock two Dears ago. His tax basis (or investment) in the stock was $31 per share. c. Ken recelved $30.000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $252,000 d. Ken received $14,250 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 received a $1,000 cash scholarship to attend. He used $550 to pay for his books and fuition, and he applied the rest toward his new car payment. f. Ken's son, Mike, instructed his employer to make haif 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 $1,850. 9. Ken received a $860 refund of the $4,100 in state income taxes his employer withheld from his pay last year. Ken claimed $13,100 in itemized deductions last year (the standard deduction for a single filer was $12.550 ). h. Ken received $35.000 of interest from corporate bonds and money market accounts. 2. Complete page 1 of Form 1040 through line 9 and Schedule 1 for Ken Note: Input all the values as positive numbers, Enter ony non-financial information, (e.g. Nomes, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement. Use 2022 tox rules regardless of year on tax form. Ken does not wish to contribute to the Presidential Election Campaign fund and did not have any virtual currency transections or interests. Social security numbers Ken. 11122.3333 1040 for a single taxpayer. At any time daring 2021, did you receive, soll send, exchango, or otherwise acquire any financial interest in ary virtual currency

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