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need help figuring out gross income Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though

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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 still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer. o. Ken won $1.240 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. Ken sold 1,040 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investrnent) in the stock was \$31 per share. c. Ken received $25,400 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $213,360. d. Ken recelved $13,100 in disability benefits for the year. He purchased the disabilify insurance policy last yeak. e. Ken decided to go back to school to learn about European history. He received a $540 cash scholarship to attend. He used $320 to poy for his books and tuition, and he applied the rest toward his new car payment. f. Kens son, Mike, instructed his employer to make half of his final paycheck of the year payable to Ken as a gif from Mike to Ken. Ken recelved the check on December 30 in the amount of $1,360. g. Ken recelved a $630 refund of the $3,640 in state income taxes his emptoyer withilid from his pay last yeac Ken claimed \$13.040 in itemized deductions last yoar (the standard deduction for a single filer was \$12.950). h. Ken recelved $30,400 of interest from corporate bonds and money market accounts

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