Question: Ken won $ 1 , 3 6 0 in an illegal game of poker ( the game was played in Utah, where gambling is illegal
Ken won $ in an illegal game of poker the game was played in Utah, where gambling is illegal
Ken sold shares of stock for $ a share. He inherited the stock two years ago. His tax basis or investment in the stock was $ per share.
Ken received $ from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for years, for $
Ken received $ in disability benefits for the year. He purchased the disability insurance policy last year.
Ken decided to go back to school to learn about European history. He is enrolled in an academic program leading to a degree and received a $ cash scholarship for the program. He used $ to pay for his books and tuition, and he applied the rest toward his new car payment.
Kens 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 in the amount of $
Ken received a $ refund of the $ in state income taxes his employer withheld from his pay last year. Ken claimed $ in itemized deductions last year the standard deduction for a single filer was $ He was able to deduct the full amount of his state income taxes last year as part of his itemized deductions.
Ken received $ of interest from corporate bonds and money market accounts.
Determine Ken's gross income.
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