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Doug is a 62 year old single man and has the following income and expense information for 2016: Wages from employer $38,000 Interest income from

Doug is a 62 year old single man and has the following income and expense information for 2016:

Wages from employer $38,000

Interest income from 1st Natl Bank 4,500

Interest from City of Chicago bonds 1,500

Interest from Corporate bonds 1,000

Nonqualifying Dividends from STC stock 2,000

Collections from annuity contract (see below)5,100

Net rental income on townhome 2,200

Alimony paid 1,000

State income tax paid 300

The cost of the annuity was $61,200 and Doug expected to receive 240 monthly payments of $425 each. Calculate the gross income for Doug for 2016.

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