Chapter 1 Group 5: Cumulative Software Problem

Dr. Ivan I. Incisor and his wife Irene are married and file a joint return for 2015. Ivans Social Security number is 477-34-4321 and he is 48 years old. Irene I. Incisors Social Security number is 637-34-4927 and she is 45 years old. They live at 468 Mule Deer Lane, Spokane, WA 99206.

Dr. Incisor is a dentist and he took 6 months off work to attend a cosmetic dentistry training program in 2015. His 2015 Form W-2 from his job at Bitewing Dental Clinic, Inc., showed the following:

Wages	$65,000
Withholding (federal income tax)	6,000

The Incisors have a 17-year-old son, Ira, who is enrolled in the eleventh grade at the Perpetual Perpetuity School. Iras Social Security number is 690-99-9999. The Incisors also have an 18-year-old daughter, Iris, who is a part-time freshman student at Snow Mass Community College (SMCC). Iris Social Security number is 899-99-9999. Iris is married to Sean Slacker (Social Security number 896-33-0954), who is 19 years old and a part-time student at SMCC. Sean and Iris have a 1-year-old child, Seth Slacker (Social Security number 648-99-4306). Sean, Iris, and Seth all live in an apartment up the street from Ivan and Irene during the entire current calendar year. Sean and Iris both work for Seans wealthy grandfather as apprentices in his business. Their wages for the year were a combined $50,000, which allowed them to pay all the personal expenses for themselves and their son.

Ivan and Irene have savings account interest income of $380 from the Pacific Northwest Bank.

We are making assumptions that Incisors have required health insurance coverage in 2015, so they are NOT subject to this "penalty tax".

REQUIREMENT: Complete Form 1040 entirely for Ivan and Irene Incisor for 2015. Be sure to save your data input files since the question will be expanded in the future chapters. Make assumptions regarding any information not given. Please attach pictures of Form 1040, thank you!

***The checkpoint for this assignment: line 43 of Form 1040 = $40,780 ***