Ken is 63 years old and unmarried. he retired at age 55 when he sold his business, understock. though ken is retired, he is still very active. ken reported the following financial information this year. assume ken files as a single taxpayer. determine ken’s gross income and complete page 2 of form 1040.(a) ken won $1,200 in an illegal game of pocker(b) ken sold 1000 shares of stock for $32 a share. he inherited the stock two years ago. his tax basis in the stock was $31 per share(c) ken received $13000 in disability benefits for the year. he purchased the disability insurance policy last year

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

The correct answer is "c. a limited partnership without a general power".