McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 20

Irene is disabled and receives payments from a number of sources (see below).The interest payments are from bonds that Irene purchased over past years and a disability insurance policy that Irene purchased herself.Calculate Irene's gross income.