Joanna received $73,200 compensation from her employer, the value of her stock in ABC company appreciated by $11,000 during the year (but she did not sell any of the stock), and she received $40,200 of life insurance proceeds from the death of her husband. What is the amount of Joanna's gross income from these items?

Question

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The amount of Joanna's gross income from these items is $73,200, which is the compensation received from her employer. The appreciation of stock value is not considered gross income unless the stock is sold, and life insurance proceeds are generally not taxable.

Joanna Received $73,200 Compensation from Her Employer, the Value of Her