Problem 4-29 (LO. 1) Determine Amos's gross income in each of the following cases: If an amount is zero, enter"0." Gross Income In the current year, Amos purchased an automobile for $25,000. As part of the transaction, Amos received a $1,500 rebate from the manufacturer. b. Amos sold his business. In addition to the selling price of the stock, he received $50,000 for a covenant not to compete-an agreement that he will not compete with his former business for five years.