Jonn received $110,000 compensation from his employer, the v…

Jonn received $110,000 compensation from his employer, the value of his stock in ABC company appreciated by $10,000 during the year (but he did not sell any of the stock), and he received $30,000 of life insurance proceeds from the death of his spouse. What is the amount of Jonn’s gross income from these items?

Jason made his annual gambling trip to Uwin Casino. On this…

Jason made his annual gambling trip to Uwin Casino. On this trip Jason won $400 at the slots and $1,300 at poker. Also this year, Jason made several trips to the racetrack, but he lost $800 on his various wagers. What amount must Jason include in his gross income?