Hello, I need your help understanding how to to solve this problem number 62 (Grayson.... ). I see you have some similar problems solved in your site, but i stil do not understand how you compute each single step, since it doe not show every step of the process. I will really appreciate if you can explain me, literally, the step by step on how you compute each step, I will really appreciate. This is from the book of essentials of federal taxation 18e. Thank you

in good health and he is 72 years old. Larry received the first annuity payment of $1,500 this month. Use the expected number of payments in Exhibit 5-1 for this problem. a) How much of the first payment should Larry include in gross income? b) If Larry lives more than 15 years after purchasing the annuity, how much of each additional payment should he include in gross income? c) What are the tax consequences if Larry dies just after he receives the 100th payment? 60. Gramps purchased a joint survivor annuity that pays $500 monthly over his remaining life and that of his wife, Gram. Gramps is 70 years old and Gram is 65 years old Gramps paid $97,020 for the contract. How much income will Gramps recognize on the first payment? Lanny and Shirley are recently divorced and do not live together. Shirley has cus tody of their child, Art, and Lanny pays Shirley $22,000 per year. All property was divided equally a) How much should Shirley include in income if Lanny's payments are made in cash but will cease if Shirley dies or remarries? designated as "nonalimony" in the divorce decree? $15,000 once Art reaches the age of 18? b) How much should Shirley include in income if $12,000 of Lanny's payments is c) How much should Shirley include in income if Lanny's payments drop to 62. Grayson is in the 25 percent tax rate bracket and has the following stocks in 2017 Date Purchased 1/23/1986 4/10/2017 8/23/2010 5/19/2017 8/20/2017 Basis Date Solo Amount Realized Stock A Stock B Stock C Stock D Stock E $7,250 14,000 0,750 5,230 7,300 7/22/2017 9/13/2017 10/12/2017 10/12/2017 11/14/2017 $4,500 17,500 15,300 12,400 3,500 a) What is Grayson's net short-term capital gain or loss from these transactions? b) What is Grayson's net long-term gain or loss from these transactions? c) What is Grayson's overall net gain or loss from these transactions? d) What amount of the gain, if any, is subject to the preferential rate for certa capital gains? 3. George bought the following amounts of Stock A over the years Date Purchased Number of Shares Adjusted Basis Stock A Stock A Stock A 11/21/1986 3/18/1992 5/22/2001 1,000 500 750 $24,000 2 9,000 27,000 S36 On October 12, 2017, he sold 1,200 of his shares of Stock A for $38 per shat