Steve Jackson (birthdate December 13, 1965) is a single taxpayer living at 3215 Pacific Dr., Del Mar,

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Steve Jackson (birthdate December 13, 1965) is a single taxpayer living at 3215 Pacific Dr., Del Mar, CA 92014. His Social Security number is 465-88-9415. In 2016, Steve’s earnings and income tax withholding as the manager of a local hotel are:

Steve’s other income includes interest from General Electric bonds of $2,550 and interest on a savings account at Wells Fargo Bank of $3,210. Also, Steve received tax-exempt interest of $29,420 on private activity bonds that is subject to alternative minimum tax. Steve had full medical coverage for the entire tax year.

During the year, Steve paid the following amounts (all of which can be substantiated):

Required: Complete Steve’s federal tax return for 2016. Use Form 1040, Schedule A, and Schedule B, on Pages 6-73 to 6-76 and Form 6251, on Pages 6-79 to 6-80. Make realistic assumptions about any missing data.

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Income Tax Fundamentals 2017

ISBN: 9781305872738

35th Edition

Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller

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