Question 1 Anthony is a cash method taxpayer. Below are his items of income in 2020. Salary: $80k Annuity payment received: $10k. Anthony originally purchase the annuity a while ago for 60k. The annuity promises to pay Anthony $10k every year for 10 years. Income from stock trading activity: $5k. Anthony is a part-time day-trader, where he buys and sells stock on a day-to-day basis. The longest stock he has ever held is 3 months. Other than the 3 main sources of income, Anthony also has the following items where he is not sure whether to include in the tax calculation or not Gambling prize won: $5k. Anthony take a trip to Vegas right before the early 2020 lock-down. It turns out that 2020 is not a too bad year for him since he won $5k playing Blackjack. The only thing is to get that $5k winning, he has already lost $4k in the same trip on the Blackjack table. House sale profit: $25k. In 2020, notice that the housing marking is booming due to the crazily low mortgage interest rate, Anthony decided to sell his main house for $500k. He originally bought it just last year for $475k. a) Calculate Anthony gross income in 2020. Show calculations and explanations. b) Name 1 thing that Anthony should have done differently in 2020 to any one of his 5 income items above that could significantly reduce the amount of income that he need to recognized in other words, lower his gross income). Provide detailed explanation why it would help