Chapter 1 Group 5: Cumulative Software Problem
Dr. Ivan I. Incisor and his wife Irene are married and file ajoint return for 2015. Ivan’s Social Security number is 477-34-4321and he is 48 years old. Irene I. Incisor’s Social Security numberis 637-34-4927 and she is 45 years old. They live at 468 Mule DeerLane, Spokane, WA 99206.
Dr. Incisor is a dentist and he took 6 months off work to attenda cosmetic dentistry training program in 2015. His 2015 Form W-2from his job at Bitewing Dental Clinic, Inc., showed thefollowing:
Wages
$65,000
Withholding (federal income tax)
6,000
The Incisors have a 17-year-old son, Ira, who is enrolled in theeleventh grade at the Perpetual Perpetuity School. Ira’s SocialSecurity number is 690-99-9999. The Incisors also have an18-year-old daughter, Iris, who is a part-time freshman student atSnow Mass Community College (SMCC). Iris’ Social Security number is899-99-9999. Iris is married to Sean Slacker (Social Securitynumber 896-33-0954), who is 19 years old and a part-time student atSMCC. Sean and Iris have a 1-year-old child, Seth Slacker (SocialSecurity number 648-99-4306). Sean, Iris, and Seth all live in anapartment up the street from Ivan and Irene during the entirecurrent calendar year. Sean and Iris both work for Sean’s wealthygrandfather as apprentices in his business. Their wages for theyear were a combined $50,000, which allowed them to pay all thepersonal expenses for themselves and their son.
Ivan and Irene have savings account interest income of $380 fromthe Pacific Northwest Bank.
REQUIREMENT: Complete Form 1040 for Ivan and IreneIncisor for 2015. Be sure to save your data input files since thequestion will be expanded in the future chapters. Make assumptionsregarding any information not given.
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