Name:

$5.$ During $2023,$ Sam Ruth had the following transactions:

Salary

Found money in a briefcase purchased at a garage sale

Beneficiary of life insurance policy from Uncle who passed away

Contribution to traditional IRA

Sold Twitter stock for a gain

The taxpayer's AGI is:

a$.$ $$67,000.$

b$.$ $$70,000.$

c$.$ $$72,000.$

d$)$ $$107,000.$

e$.$ $$127,000.$

$6.$ During $2023,$ Anmol Frank had the following transactions:

Alimony received $($divorce occured in $2017)$

Interest income on IBM bonds

She borrowed money to buy a new car

Value of BMW received as a gift from aunt

Federal income tax withholding payments

The taxpayer's AGI is:

a$.$ $$74,000.$

b$.$ $$76,000.$

c$.$ $$79,000.$

d$.$ $$81,000.$

e$.$ $$90,000.$

$7.$ Mahbuba purchased an annuity for $$150,000$ in $2020.$ The annuity is to pay her $$2,500$ per $m$ of her life, with the first payment starting January $1,2021.$ Her life expectancy is $100$ month following is correct?

a$.$ Mahbuba is not required to recognize any income until she has collected $60$ payments $)=($$$150,000.$

b$.$ If Mahbuba collects $20$ payments and then dies in $2022,$ her estate should amend her ts return for $2021$ and eliminate all of the reported income from the annuity for those ye:

c$.$ For each $$2,500$ payment received in the first year, Mahbuba must include $$1,000$ in gross income.

d$.$ For each $$2,500$ payment received in the first year, Mahbuba must include $$500$ in $g$ income.

e$.$ For each $$2,500$ payment received in the first year, Mahbuba must include $$1,500$ in gross income.

Please go theough each question, it may not be right. I understand that the photo is a bit cut out but please try your best.