Question: Assignment 6 Comprehensive Tax Return To complete this assignment, read the information below and then complete the 2017 individual Federal income tax return for Kevin

Assignment 6 Comprehensive Tax Return To complete
Assignment 6 Comprehensive Tax Return To complete this assignment, read the information below and then complete the 2017 individual Federal income tax return for Kevin and Jim by hand (this means hand written numbers in the forms ). You will need the following forms: 1040, Schedules A and B and Form 8283, if necessary. You should use 2017 tax forms and rates (you must use the tax rate schedules provided in the instructions to find the tax due ). Last year they filed as married filing jointly FACTS This is information relating to Kevin and Jim Jones for 2017 . Kevin and Jim are married and have 2 adopted children , Aubrynne (a girl ) and Bryson (a boy ). They live at 235 9 Ave., New York, NY 10011 Kevin is a lawyer who works for a law firm . Jim works part time in a genetic research lab . The Jones' Social Security numbers and ages are as follows: Kevin 111-11-1111 Jim 272 -22 -2222 work Aubrynne 333 -33 -3333 Bryson 444 -44 -4444 Receipts Kevin's salary $94,000 Jim's salary 33,000 Municipal bond interest 2,400 Interest on C.D.s at Universal Savings 3,100 Qualified dividend on GM stock 1,500 "Qualified dividends should be reported as both qualified and ordinary on the tax forms . Expenditures Eye exam and eyeglasses for Aubryone 600 Orthodontic work to correct Bryson's congenital defect 2,500 Medical insurance premiums (paid on an after tax basis ) 1,800 State withholding for income tax 7,200 Federal withholding for income tax 16,000 State income taxes paid with last year's return 500 Property tax on condo 1,100 Ad valorem Property tax on automobile 300

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