Shady Slim's $1040....$

Consider the following letter and answer Shady's question.

To my friendly student tax preparer:

Hello, my name is Shady Slim. I understand you are going to help me figure out my gross income for the year $...$ whatever that means. It's been a busy year and I$\text{'}$m a busy man, so let me give you the lowdown on my life and you can do your thing.

I was unemployed at the beginning of the year and got $$2,600$ in unemployment compensation. I later got a job as a manager for Roca Cola. I earned $$58,000$ in base salary this year. My boss gave me a $$5,400$ Christmas bonus check on December $22.$ I decided to hold on to that check and not cash it until next year, so I won't have to pay taxes on it this year. Pretty smart, huh? My job's pretty cool. I get a lot of fringe benefits like a membership to the gym that costs $$420$ a year and all the Roca Cola I can drink, although I can't really drink a whole lot$-$I figure $$40$ worth this year.

As part of my manager duties, I get to decide on certain things like contracts for the company. My good buddy, Eddie, runs a bottling company. I made sure that he won the bottling contract for Roca Cola for this year $($even though his contract wasn't quite the best$).$ Eddie bought me a Corvette this year for being such a good friend. The Corvette cost $$64,000$ and I$\text{'}$m sure he bought it for me out of the goodness of his heart. What a great guy!

Here's a bit of good luck for the year. Upon leaving my office one day, I found $$7,200$ lying in the street! Well, one person's bad luck is my good luck, right?

I like to gamble a lot. I won a $$17,400$ poker tournament in Las Vegas this year. I also won about $$6,080$ over the year playing the guys at our Friday night poker game. Can you believe that I didn't lose anything this year?

Speaking of the guys, one of them hit me with his car as we were leaving the game one night. He must have been pretty ticked that he lost! I broke my right leg and my left arm. I sued the guy and got $$12,800$ for my medical expenses, $$4,200$ to pay my psychotherapist for the emotional problems I had relating to the injuries $($I got really depressed!$),$ and I won $$12,400$ in punitive damages. That'll teach him that he's not so tough without his car!

Hello, my name is Shady Slim. I understand you are going to help me figure out my gross income for the year $...$ whatever that means. It's been a busy year and I$\text{'}$m a busy man, so let me give you the lowdown on my life and you can do your thing.

I was unemployed at the beginning of the year and got $$2,600$ in unemployment compensation. I later got a job as a manager for Roca Cola. I earned $$58,000$ in base salary this year. My boss gave me a $$5,400$ Christmas bonus check on December $22.$ I decided to hold on to that check and not cash it untill next year, so I won't have to pay taxes on it this year. Pretty smart, huh? My job's pretty cool. I get a lot of fringe benefits like a membership to the gym that costs $$420$ a year and all the Roca Cola I can drink, although I can't really drink a whole lot$-$l figure $$40$ worth this year.

As part of my manager duties, I get to decide on certain things like contracts for the company. My good buddy; Eddie, runs a bottling company. I made sure that he won the bottling contract for Roca Cola for this year $($even though his contract wasn't quite the best$).$ Eddie bought me a Corvette this year for being such a good firiend. The Corvette cost $$64,000$ and Im sure he bought it for me out of the goodness of his heart. What a great guy!

Here's a bit of good luck for the year. Upon leaving my office one day, I found $$7,200$ lying in the street! Well, one person's bad luck is my good luck, right?

I like to gamble a lot. I won a $$17,400$ poker toumament in Las Vegas this year. I also won about $$6,080$ over the year playing the guys at our Friday night poker game. Can you believe that I didn't lose anything this year?

Speaking of the guys, one of them hit me with his car as we were leaving the game one night. He must have been pretty ticked that he lost! I broke my right leg and my left arm. I sued the guy and got $$12,800$ for my medical expenses, $$4,200$ to pay my psychotherapist for the emotional problems Ihad relating to the injuries $($l got really depressedl$),$ and I won $$12,400$ in punitive damages. Thatill teach him that he's not so tou