identify the following items as being included in gross income or exclude from gross income

Taxation 1. Identify the following items as being included in gross income or excluded from gross income. Item Mary is 65 years old and her only income is $25,000 of Social Security Tom receives a bonus at work of $5,000 for meeting sales targets. Interest income form M and T bank Cash dividend received from Apple Corp Common Stock Disability payments of $12,000 received. The employer paid the premium on the disability insurance policy. Received $50,000 as the proceeds of a life insurance policy received as the result of the death of spouse, Interest income for State of New York Bonds of $4,000 A stock dividend of 100 additional shares of Apple Corp stock. The stock had a fair market value of $105 per share at the time of the dividend. A turkey valued at $25 received at Christmas by all employees Unemployment Compensation received in the amount of $5,000 A $15,000 graduation gift from parents A watch worth $2,000 is won in a charity auction Excluded Included in Gross lnc