Tax Return Problem Cases ACCT 440 spring 2016 Instructions: Use the relevant tax forms for your computations. You must download the relevant forms from the IRS website. Do not use tax software to prepare the returns. You need not complete the state tax returns. Make sure to include all the relevant supporting schedules for your federal return. There are a total of five returns assignments. All five returns must be turned in no later than Monday, This is an individual assignment. You are not allowed to discuss or share the answers with any other student, friend, tax professional, colleague or a professor. Tax Return 1: Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local chamber of commerce, while Wanda is employed part-time as a paralegal for a law firm. a. During 2014, the deans had the following receipts: Salaries ($60,000 for Lance, $41,000 for Wanda) Interest income City of Albuquerque general purpose bonds Ford Motor Company bonds Ally Bank certificate of deposit Child support payment from John Allen Annual gift from parents Settlement from Roadrunner Touring Company Lottery winnings Federal income tax refund (for tax year 2013) $1,000 1,100 400 $101,000 2,500 7,200 26,000 90,000