Dear gbisht, Please answer the following problem by the assigned due date. Thank you.

Please download the forms (1040, Schedules A & B) from IRS.GOV site. Compute Peter and Amy's Income tax liability for the current year funding Form 1040, Schedules A and B, and Form 8283, if necessary. Following is a list of information for Peter and Amy Jones for the current tax year. Peter and Amy are married and have three children Aubrynne, Bryson, and Caden. They live at 1846 Joplin Way, Lakeville, MN 55022. Peter is a lawyer working for a Native American law firm. Amy works parttime in a genetic research lab. The Jones' Social Security numbers and ages are as follows: NAME Peter Amy Aubrynne Bryson Caden SS No. 215601989 301602828 713845555 714872222 714891684 Age 32 28 5 3 1 Receipts Peter Salary Amy's Salary Interest Income on Municipal Bond Interest Income on certificate of deposit (Universal Saving) Dividends on GM Stock Amount $70,000 $32,000 $2400 $3100 $1600 Disbursements Eyeglasses and eye exam for Aubrynne Orthodontic work for Bryson to correct a congenital defect Medical insurance premiums Withholding for state income taxes Withholding for federal income taxes Amount 600 2500 1800 7200 16000 State income taxes paid with last year's tax return Property taxes on home Property taxes on automobile Interest on home Interest on credit card Cash contribution to church 500 1100 300 9700 200 3900 In addition to the above, on Sep. 17, Peter and Amy donate some Beta Trader, Inc. stock to Lakeville Community College. Beta Trader, Inc. is publicly traded. The FMV of the stock on the date of the contribution is $700. Peter and Amy purchased the stock on November 7, 2002 for $300