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From the Information Given Below,determine Steve's Gross Income for Tax

Question 171

Essay

From the information given below,determine Steve's gross income for tax purposes:
 Salary $32,000 Interest (checking account) 25 Cash received as birthday gift 1,000 Dividends (mutual funds) 5,500 Child support payments received from ex-wife 24,000 Life insurance benefits received from aunt’s death 50,000\begin{array}{lr}\text { Salary } & \$ 32,000 \\\text { Interest (checking account) } & 25 \\\text { Cash received as birthday gift } & 1,000\\\text { Dividends (mutual funds) } & 5,500 \\\text { Child support payments received from ex-wife } & 24,000 \\\text { Life insurance benefits received from aunt's death } & 50,000\\\end{array}

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$32,000 + ...

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