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Urgent help! Required information [The following information applies to the questions displayed below] Ken is 63 years old and unmarried. He retired at age 55
Urgent 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 foliowing 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 illegai.. b. Ken sold 1.000 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 $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annualy for 20 years, for $210,000. d. Ken recelved $13,000 in disability benefits for the yeat. He purchased the disabitity insurance policy lastyear 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: 1. 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 $1,100. 9. Ken recetved a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last yeat Ken claimed $12,600 in itemized deductions last year (the standard deduction for a single fier was $12,550 ): g. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,600 in itemized deductions last year (the standard deduction for a single filer was $12,550 ) h. Ken received $30,000 of interest from corporate bonds and money market accounts 1. Determine Ken's gross income. 2. Complete page 1 of Form 1040 (through line 9) for Ken. Visit the IRS website and downloed Form 1040. Enter the required values in the appropriate fields. Use 2022 tax rules regardiess of the year on the form. Sove your completed Tox Form to your computer and then upload it here by clicking "Browse." Next, click "Sove Step by Step Solution
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