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Ken is 6 3 years old and unmarried. He retired at age 5 5 when he sold his business, Understock.com. Though Ken is retired, he

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 $1,380 in an illegal game of poker (the game was played in Utah, where gambling is illegal).
b. Ken sold 1,180 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investment) in the stock was $31 per share.
c. Ken received $26,800 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $225,120.
d. Ken received $13,450 in disability benefits for the year. He purchased the disability in surance policy last year.
e. Ken decided to go back to school to learn about European history. He received a $680 cash scholarship to attend He used $390 to pay for his books and tuition, and he applied the rest toward his new car payment.
f. Ken's son, Mike, instructed his employer to make half of his final paycheck of the year payable to Ken as a gift from Mike to Ken. Ken received the check on December 30 in the amount of $1,370
Ken received a $700 refund of the $3,780 in state income taxes his employer withheld from his pay last year. Ken claimed $13,180 in itemized deductions last year (the standard deduction for a single filer was $12,950),
h. Ken received $31,800 of interest from corporate bonds and money market accounts.
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