Cecil C. Seymour is a 64-year-old widower. He had income for 2015 as follows:

Pension from former employer: 39850

Interest Income from Alto National Bank: 5500

Interest Income on City of Alto Bonds: 4500

Dividends received from IBM stock held for over one year: 2000

Collections on annuity contract he purchased from Great Life Insurance: 5400

Social Security benefits: 14000

Rent Income from townhouse: 9000

The cost of the annuity was 46800, and Cecil was expected to receive a total of 260 monthly payments of 450. Cecil has received 22 payments through 2015.

Cecil's 40-year-old daughter, Sarah C. Seymour, borrowed 60000 from Cecil on January 2, 2015. She used the money to start a new business. Cecil does not charge her interest because she could not afford to pay it, but he does expect to eventually collect the principal. Sarah is living with Cecil until the business becomes profitable. Except for housing, Sarah provides her own support from her business and 1600 in dividends on stocks that she inherited from her mother.

Other relevant information is presented below:

Cecil's Social Security Number: 123-45-6785

Address: 3840 Springfield Blvd., Alto, GA 30510

Sarah's Social Security Number: 123-45-6784

Expenses on rental townhouse:

Utilities: 2800

Maintenance: 1000

Depreciation: 2000

Real Estate Taxes: 750

Insurance: 700

State Income Taxes Paid: 3500

County Personal Property taxes paid: 2100

Payments on estimated 2015 Federal income tax: 5900

Charitable contributions of cash to Alto Baptist Church: 6400

Federal interest rate: 6%

Sales taxes paid: 912

Compute Cecil's 2015 Federal income tax payable (or refund due) manually using applicable forms.