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 $$1,420$ in an illegal game of poker $($the game was played in Utah, where gambling is illegal$).$

b$.$ Ken sold $1,220$ 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 $$27,200$ from an annuity he purchased eight years ago. He purchased the annuity, to be paid $$nnually for $20$ years, for $$228,480.$

d$.$ Ken received $$13,550$ in disability benefits for the year. He purchased the disability insurance policy last year.

e$.$ Ken decided to go back to school to learn about European history. He received a $$720$ cash scholarship to attend. He used $$410$ 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 $$1,430.$

g$.$ Ken received a $$720$ refund of the $$3,820$ in state income taxes his employer withheld from his pay last year. Ken claimed $$12,820$ in itemized deductions last year $($the standard deduction for a single filer was $$12,550).$

h$.$ Ken received $$32,200$ of interest from corporate bonds and money market accounts.

Comprehensive Problem $5-75$ Part$-1($Algo$)$

Determine Ken's gross income.

Gross income

$$,115,560$