Determine the taxpayer's current-year (1) economic income and (2) gross income for tax purposes from the following events 3. Sam's employment contract as chief executive of a large corporation was terminated, and he was paid $500,000 not to work for a competitor of the corporation for five years a. b. Elliot, a 6-year-old child, was paid $5,000 for appearing in a television commercial. His c. Valery found a suitcase that contained $100,000. She could not determine who the d. Winn purchased a lottery ticket for $5 and won $750,000. parents put the funds in a savings account for the child's education owner was