Please refer to the second MC set, question 1 copied below. you will need to download Form 1040, Schedule B (and instructions to both Form 1040 and Schedule B). Part of the learning experience is finding the required forms and instructions on your own.

Required (points):

1. (1) Based on the information on page 2 below, please prepare Form 1040, page 1, lines 2a and 2b and attach.
2. (0.5) Regardless of whether it is required, please prepare Schedule B, Part I and attach.
3. (0.5) Were the taxpayers required to complete Schedule B?

1. (1) Support your answer to the previous question by quoting from the instructions to 1040 or to schedule B.

1. Preparing Schedule B seems to be a small investment of time and effort and not really that costly in time and effort. It certainly has no effect on taxable income (interest is reported on Form 1040 even if Schedule B is not required). Why would a taxpayer wish to avoid having a Schedule B?

1. If you cannot think of an answer to the above question, you can instead try to earn full credit by impressing me with another insight you had while preparing this assignment.

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