Ken Is $63$ years old and unmarrled. 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 $$1,260$ in an Illegal game of poker $($the game was played in Utah, where gambling Is IIlegal$).$

b$.$ Ken sold $1,060$ 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 recelved $$25,600$ from an annuity he purchased elght years ago. He purchased the annulty, to be pald annually for $20$ years, for $$215,040.$

d$.$ Ken recelved $$13,150$ 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 recelved a $$560$ cash scholarship to attend. He used $$330$ to pay for his books and tultion, 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 recelved the check on December $30$ in the amount of $$1,190.$

g$.$ Ken recelved a $$640$ refund of the $$3,660$ in state income taxes his employer withheld from his pay last year. Ken claimed $$13,060$ in itemized deductions last year $($the standard deduction for a single filer was $$12,950).$

h$.$ Ken recelved $$30,600$ of Interest from corporate bonds and money market accounts.

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

Determine Ken's gross Income.

Gross income