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Harold J. Milton (SSN 574-45-5477) is single with no dependents. He had the following income and deductions for 2006: Salary $177,000 Interest income from bank

Harold J. Milton (SSN 574-45-5477) is single with no dependents. He had the following income and deductions for 2006: Salary $177,000 Interest income from bank 12,000 Dividend income (qualified) 18,000 Deductible IRA contribution 4,000 Tax-exempt interest from private activity bonds issued in 1990 24,000 Charitable contributions 27,000 State income taxes 18,000 Mortgage interest expense on residence 19,000 Interest expense on car loan 3,000 Real estate taxes on residence 2,000 Miscellaneous deductions (before the 2% AGI floor) 7,000 Income taxes withheld 20,000 Estimated tax payments ($2,500 per quarter) 10,000 Complete Milton's 2006 Form 1040, Schedule A, B, D, Form 6251, and Form 2210. Milton had AGI of 2005 of $200,000 and his 2005 income tax liability was $46,000. (Note: Milton is eligible to use the Short Method on Form 2210).}

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