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Rusty has been experiencing serious financial problems. His annual salary was $100,000, but a creditor garnished his salary for $20,000; so the employer paid the

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Rusty has been experiencing serious financial problems. His annual salary was $100,000, but a creditor garnished his salary for $20,000; so the employer paid the creditor (rather than Rusty) the $20,000. To prevent creditors from attaching his investments, Rusty gave his investments to his 21-year-old daughter, Rebecca. Rebecca received $5,000 in dividends and interest from the investments during the year. Rusty transferred some cash to a Swiss bank account that paid him $6,000 interest during the year. Rusty did not withdraw the interest from the Swiss bank account. Rusty also hid some of his assets in his wholly owned corporation that received $150,000 rent income but had $160,000 in related expenses, including a $20,000 salary paid to Rusty. Rusty reasons that his gross income should be computed as follows: Salary received Loss from rental property ($150,000 -$160,000) Gross income What are the amounts for each item used to determine Rusty's correct gross income? If an amount is zero, enter " $80,000 (10,000) $70,000 Amount Included in Gross Income Salary from employer Salary from wholly owned corporation Dividends and interest from the investments Interest from Swiss bank account Rental loss incurred by wholly owned corporation Gross income

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