Elwood had to retire early because of a job-related injury.
During the current year, he receives $10,000 in Social Security benefits. In
addition, he receives $6,000 in cash dividends on stocks that he owns and
$8,000 in interest on tax-exempt bonds. Assuming that Elwood is single, what is
his gross income if
a. He receives no other income?
b. He also receives $11,000 in unemployment compensation?
c. He sells some land for $80,000? He paid $45,000 for the