UIUFF el Watch romance M Gmail YouTube Problem Help Required information [The following information applies to the questions displayed below.) 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. a. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. Ken sold 1,000 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis for investment in the stock was $31 per share. c. Ken received $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000. d. Ken received $13,000 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 $500 cash scholarship to attend. He used $300 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 gift from Mike to Ken. Ken received the check on December 30 in the amount of $1,100. g. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,250 in itemized deductions last year (the standard deduction for a single filer was $12.200). h. Ken received $30,000 of interest from corporate bonds and money market accounts. Complete page 1 of Form 1040, Line 1-7b and Form 1040, Schedule 1, Lines 1-9 for ken. (Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement.) 1040 for a single taxpayer. Required information RULILITOITUUTTO 1 1 50 23 20 3 4 1,000 5 Table refunds, credits, or offsets of state and local income taxes Alimony received Date of original divorce or separation agreement (see Instruction) Business income or foss) Altach Schedule C Other gains or losses). Attach Form 4797 Rental real estate, royalties, partnerships, corporations, trusts, etc. Altach Schedule E Farm income or loss). Attach Schedule F Unemployment compensation Other Income. List type and amount Gambling Income Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a Adjustments to Income Educator expenses 6 6 7 1.200 2.250 9 Part II 10 10 11 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 11 12 12 13 13 14 14 15 15 16 16 17 17 Health savings account deduction. Attach Form 3889 Moving expenses for members of the Armed Forces Attach Form 3903 Deductible part of self-employment tax. Attach Schedule SE Self-employed SEP, SIMPLE, and qualified plans Self-employed health insurance deduction Penalty on early withdrawal of savings Alimony paid Recipients SSN Date of original divorce or separation agreement (see instructions) IRA deduction Student loan interest deduction Reserved for future une 18a 18a b 19 19 20 20 21 21 CO Boy
