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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

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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 stili very active. Ken reported the following financial information this year, Assume Ken files as a single taxpayer a. Ken won $1,560 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. Ken sold 1,360 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 $28,600 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $240,240. di Ken recelved $13,900 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 $860 cash ficholarship to attend He used \$480 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 haif of his final paycheck of the year payable to Ken as a git from Mike to Ken Ken recelved the check on December 30 in the amount of $1,640. 9. Ken received a $790 refund of the $3,960 in state income taxes his employer withheld from his pay last yeat. Ken claimed $12,810 in itemized deductions last year (the standard deduction for a single filer was $12.400 ). h. Ken received $33,600 of interest from corporate bonds and money market accounts. cKen recelved $28,600 from an annulty he purchased eight years ago. He purchased the annulty, to be paid annually for 20 years, for $240,240 d. Ken recelved $13,900 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 $860 cash scholarship to attend He used $480 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 gitt from Mike to Ken. Ken received the check on December 30 in the amount of $1,640 9 Ken recelved a $790 refund of the $3,960 in state income taxes his employer withheid from his pay fast year. Ken claimed $12,810 in itemized deductions last year (the standard deduction for a single filer was $12,400 ). h. Ken recelved $33,600 of interest from corporate bonds and money market accounts.' 1. Determine Ken's gross income

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