Bob (age 40) and Susan (age 39) Cowen are married. Susan works as a retail manager and Rob is a self-employed electrician but does not maintain a home office. Their 2015 tax and other information are as follows:

Salary Susan	75,000
Federal withholding on salary	24,000
State withholding on salary	4,000
Interest income on municipal bonds:
State of Connecticut	2,000
Savings account interest	900
Dividends from RGR, Inc. (all are non-qualified)	4,000
Value of employer provided medical insurance	2,000
Inheritance from Susans fathers estate	7,000
Interest paid on personal car loan	800
Interest paid on personal loan	1,000
Child support paid to Bobbs ex-wife	10,000
Alimony paid to Bobs ex-wife	3,000
Qualified Out of Pocket Medical Expenses	4,000
Donations to church Real Estate taxes on primary residence	2,500 6,000
Mortgage interest on primary residence (<$1M)	4,000
Bobs business revenues	50,000
Bobs business expenses	17,000

Required: Using the tax formula format, determine the following for the Cowens2015 tax year (show all calculations)

All Income $___________

Exclusions (if any) $ ___________

Gross income (including Bobs SE income) $ ___________

Deductions For AGI $ ___________

Adjusted gross income $ ___________

Itemized deduction or standard deduction amount $ ___________

Deduction for exemptions $ ___________

Taxable income $ ___________

Income tax liability $ ___________

Self-employment tax liability $ ___________

Net tax due or refund (show calculation) $ ___________