George Rush,age37,and his wife,Barbara,age33,have two children,Chris and

Ellen,ages2and12.George is employed as an engineer for an oil company,and his wife recently completed a degree in accounting and will begin working for a public accounting firm next year.George has compiled the following information for your use in preparing his tax return for2015.

• For the current year,George received a salary of$70,000.His employer withheldFederal income taxes of$9,000and the appropriate amount of FICA taxes.

• At the annual Christmas party,he received a card indicating that he would receivea bonus of$3,000for his good work during the year.The bonus check was placed in his mailbox at work on December30.Since George was out of town for the holidays,he did not pick up the bonus check until January2.

• A bond issued by AM&T Inc.was sold on May30,2015for$9,700,$700of whichrepresented interest accrued to the date of the sale.The Rush had purchased the bond(issued at par value of$10,000on March1,2004)in2011for$10,000.

• The couple has a$500U.S.Savings Bond,which they purchased for$300andgave to their daughter several years ago.The proper election to report the income from the bond annually was made.The bonds redemption value increased$30this year.

• George was an instant winner in the state lottery and won$50.
• The taxpayers sold100shares of stock in JB Corporation for$10,000on May1,2015.They had purchased the stock on June1,2008for$14,000.

• During the year,Barbara prepared anumber of tax returns for which she received$5,000.Her only deductibleexpense incurred in performing these services was$100for some taxsoftware.

• The couples itemized deductions weremedical expenses of$7,468,interest on their home mortgage of$8,500,state income taxes$3,750,property taxes on their home of$5,000,and charitablecontributions of$2,000.

Compute Mr.and Mrs.Rushs Federal income tax liability(or refund)for2015.Also use the2015tax tables.