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Form 1040 2015 (99) Department of the TreasuryInternal Revenue Service U.S. Individual Income Tax Return OMB No. 1545-0074 , 2015, ending IRS Use OnlyDo not write or staple in this space. See separate instructions. For the year Jan. 1-Dec. 31, 2015, or other tax year beginning Your first name and initial Last name , 20 Your social security number If a joint return, spouse's first name and initial Last name Spouse's social security number Apt. no. Home address (number and street). If you have a P.O. box, see instructions. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Foreign country name Filing Status Check only one box. Exemptions Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking Foreign postal code a box below will not change your tax or refund. You Spouse Foreign province/state/county 1 4 Single Married filing jointly (even if only one had income) 2 3 c Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this child's name here. Married filing separately. Enter spouse's SSN above and full name here. 6a b 5 Qualifying widow(er) with dependent child Yourself. If someone can claim you as a dependent, do not check box 6a . Spouse . Dependents: (1) First name . . . . . . . . . . . (2) Dependent's social security number Last name . . . . . . . . . . . . . . . . } (4) if child under age 17 qualifying for child tax credit (see instructions) (3) Dependent's relationship to you Dependents on 6c not entered above d Attach Form(s) W-2 here. Also attach Forms W-2G and 1099-R if tax was withheld. If you did not get a W-2, see instructions. Adjusted Gross Income Boxes checked on 6a and 6b No. of children on 6c who: lived with you did not live with you due to divorce or separation (see instructions) If more than four dependents, see instructions and check here Income Make sure the SSN(s) above and on line 6c are correct. Total number of exemptions claimed . . . . . . . . . . . . . . . . . . . . . . . 7 . 8b . . . . . . . . . 8a . . . . . . . 9a 10 11 Qualified dividends . . . . . . . . . . . 9b Taxable refunds, credits, or offsets of state and local income taxes Alimony received . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 12 13 14 Business income or (loss). Attach Schedule C or C-EZ . . . . . . . . . Capital gain or (loss). Attach Schedule D if required. If not required, check here Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . . . 12 13 14 15a 16a 17 IRA distributions . 15a b Taxable amount . . . Pensions and annuities 16a b Taxable amount . . . Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E 15b 16b 17 18 19 20a Farm income or (loss). Attach Schedule F . Unemployment compensation . . . . Social security benefits 20a 18 19 20b 21 22 Other income. List type and amount Combine the amounts in the far right column for lines 7 through 21. This is your total income 23 Educator expenses 24 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 or 2106-EZ 25 Health savings account deduction. Attach Form 8889 . 24 25 26 27 28 Moving expenses. Attach Form 3903 . . . . . . Deductible part of self-employment tax. Attach Schedule SE . Self-employed SEP, SIMPLE, and qualified plans . . 26 27 28 29 30 31a Self-employed health insurance deduction Penalty on early withdrawal of savings . . . . . . . . . . 32 33 34 Alimony paid b Recipient's SSN IRA deduction . . . . . . . Student loan interest deduction . . Tuition and fees. Attach Form 8917 . 29 30 31a . . . . . . . . . . . . 32 33 34 35 36 37 Domestic production activities deduction. Attach Form 8903 35 Add lines 23 through 35 . . . . . . . . . . . . . Subtract line 36 from line 22. This is your adjusted gross income 7 Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . 8a b 9a Taxable interest. Attach Schedule B if required . Tax-exempt interest. Do not include on line 8a . Ordinary dividends. Attach Schedule B if required . . . . . . . b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Taxable amount . . . . . . . . . . . . Add numbers on lines above 21 22 23 . . For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. . . . . . . . . . 36 37 Cat. No. 11320B Form 1040 (2015) Page 2 Form 1040 (2015) 38 Amount from line 37 (adjusted gross income) Tax and Credits 39a Check if: Standard Deduction for People who check any box on line 39a or 39b or who can be claimed as a dependent, see instructions. All others: Single or Married filing separately, $6,300 Married filing jointly or Qualifying widow(er), $12,600 Head of household, $9,250 . . Other Taxes 58 59 60a Unreported social security and Medicare tax from Form: a b 61 First-time homebuyer credit repayment. Attach Form 5405 if required 62 63 Form 8960 c Taxes from: a Form 8959 b Add lines 56 through 62. This is your total tax . . Payments If you have a qualifying child, attach Schedule EIC. Sign Here Paid Preparer Use Only . You were born before January 2, 1951, Spouse was born before January 2, 1951, . . Blind. Blind. . } . . . . . 38 . Total boxes checked 39a 39b . . 42 43 Exemptions. If line 38 is $154,950 or less, multiply $4,000 by the number on line 6d. Otherwise, see instructions Taxable income. Subtract line 42 from line 41. If line 42 is more than line 41, enter -0- . . Form 4972 c Tax (see instructions). Check if any from: a Form(s) 8814 b 44 45 46 47 48 49 50 51 52 53 54 55 56 57 64 65 66a b 67 68 69 70 71 72 75 76a Alternative minimum tax (see instructions). Attach Form 6251 . Excess advance premium tax credit repayment. Attach Form 8962 . . . . . . . . . . . . . . . 48 . . . . . . 52 Residential energy credits. Attach Form 5695 . . . . 53 3800 b 8801 c Other credits from Form: a 54 Add lines 48 through 54. These are your total credits . . . . . Subtract line 55 from line 47. If line 55 is more than line 47, enter -0- . . . . . . . . . . . . Self-employment tax. Attach Schedule SE . . . . Add lines 44, 45, and 46 . . . . . . . Foreign tax credit. Attach Form 1116 if required . . . . . . . . . . . . . . . . . Additional tax on IRAs, other qualified retirement plans, etc. Attach Form 5329 if required . . . . . . . . . . . Instructions; enter code(s) . . . . . . . . . . 64 Federal income tax withheld from Forms W-2 and 1099 . . 2015 estimated tax payments and amount applied from 2014 return 65 Earned income credit (EIC) . . . . . . . . . . 66a . . . . . b 4137 . . . . . . . . . . . . . 67 American opportunity credit from Form 8863, line 8 . Net premium tax credit. Attach Form 8962 . . . . Amount paid with request for extension to file . . . . . . . . . 68 69 70 . 71 72 Credits from Form: a 2439 b Reserved c 8885 d 73 Add lines 64, 65, 66a, and 67 through 73. These are your total payments . Excess social security and tier 1 RRTA tax withheld Credit for federal tax on fuels. Attach Form 4136 . . Full-year coverage Health care: individual responsibility (see instructions) Nontaxable combat pay election 66b Additional child tax credit. Attach Schedule 8812 . . . . . . . 8919 Household employment taxes from Schedule H . . . . . . . . . 40 41 42 43 44 45 46 47 49 50 51 Credit for child and dependent care expenses. Attach Form 2441 Education credits from Form 8863, line 19 . . . . . Retirement savings contributions credit. Attach Form 8880 Child tax credit. Attach Schedule 8812, if required . . . 55 56 57 58 59 60a 60b 61 62 . 63 . 74 . . . . . If line 74 is more than line 63, subtract line 63 from line 74. This is the amount you overpaid 75 Amount of line 75 you want refunded to you. If Form 8888 is attached, check here 76a . b d c Type: Routing number Checking Savings Account number Amount of line 75 you want applied to your 2016 estimated tax 77 77 78 Amount you owe. Subtract line 74 from line 63. For details on how to pay, see instructions 78 79 Estimated tax penalty (see instructions) . . . . . . . 79 Do you want to allow another person to discuss this return with the IRS (see instructions)? Yes. Complete below. No Personal identification number (PIN) Phone no. Designee's name Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Your signature Date Your occupation Daytime phone number Spouse's signature. If a joint return, both must sign. Date Spouse's occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.) PTIN Check if self-employed Joint return? See instructions. Keep a copy for your records. . Itemized deductions (from Schedule A) or your standard deduction (see left margin) Subtract line 40 from line 38 . . . . . . . . . . . . . . . . . Third Party Designee . 40 41 Direct deposit? See instructions. Amount You Owe . If your spouse itemizes on a separate return or you were a dual-status alien, check here b 73 74 Refund { . Print/Type preparer's name Firm's name Preparer's signature Date Firm's EIN Firm's address Phone no. www.irs.gov/form1040 Form 1040 (2015) 11040 (99) Department of the Treasury-Internal Revenue Service U.S. Individual Income Tax Return For the year Jan. 1-Dec. 31, 2015, or other tax year beginning Your first name and initial Shane If a joint return, spouse's first name and initial Last name I (Q) 15 I , 2015, ending 0MB No. 1545-0074 City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Filing Status Check only one box. Exemptions 3 6a b I D Single 0 If more than four dependents, see instructions and check here .,.. Married filing jointly (even if only one had income) Income Attach Form(s) W-2 here. Also attach Forms W-2G and 1099-R if tax was withheld. If you did not get a W-2, see instructions. 7 d 8a b 9a b 10 11 12 13 14 15a 16a 17 Adjusted Gross Income 18 19 20a 21 22 23 24 and full name here . .,.. (2) Dependent's social security number 5 7 7 3 0 0 0 3 5 7 7 3 7 0 0 4 35 36 37 D Wages, salaries, tips, etc. Attach Form(s) W-2 I I Tax-exempt interest. Do not include on line 8a Ordinary dividends. Attach Schedule B if required Qualified dividends D . (4) .,r if child under age 17 qualifying for child tax credit (see instructions) Boxes checked on6a and6b No. of children on6cwho: 2 Depe ndents on6c not e ntered above 2 lived with you D D Add numbers on ab 9b I I I I Sa I I D I I Combine the amounts in the far right column for lines 7 through 21. This is your total income .,. Educator expenses 23 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 or 2106-EZ Deductible part of self-employment tax. Attach Schedule SE Self-employed SEP, SIMPLE, and qualified plans Self-employed health insurance deduction r:;. L.:...J 130,000 10,000 9a Pensions and annuities b Taxable amount Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E Farm income or (loss). Attach Schedule F . Unemployment compensation Social security benefits 20a b Taxable amount Other income. Ust type and amount IRA deduction . D did not live with you due to divorce or separation (see instructions) D Business income or (loss). Attach Schedule C or C-EZ Capital gain or (loss). Attach Schedule D if required. If not required, check here .,.. Other gains or (losses). Attach Form 4797 IRA distributions b Taxable amount Student loan interest deduction Tuition and fees. Attach Form 8917 . } 0 Taxable refunds, credits, or offsets of state and local income taxes Alimony received I I Make sure the SSN(s) above and on line 6c are correct. Presidential Election Campaign 7 Taxable interest. Attach Schedule B if required I= I A lines above .,.. Penalty on early withdrawal of savings . Alimony paid b Recipient's SSN .,. 33 34 5 I I 5 7 7 1 8 0 0 2 Apt. no. Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this child's name here .... Qualifying widow(er) with dependent child Total number of exemptions claimed 30 31a 32 28 29 D Son Daughter 27 26 4 (3) Dependent's relationship to yoo Health savings account deduction. Attach Form 8889 Moving expenses. Attach Form 3903 25 5 7 7 1 8 0 0 1 Check here if yoo, or your spouse if filing jointly, want $3 to go to this fund. Checking Foreign postal code a box below will not change your tax or refund. You Spouse 0 Yourself. If someone can claim you as a dependent, do not check box 6a 0 Spouse Dependents: (1) Rrst name Last name Erik Wells Becky Wells D Foreign province/state/county D Married filing separately. Enter spouse's SSN above C Your social security number Spouse's social security number Wells Sheila Home address (number and street). If you have a P.O. box, see instructions. 1 2 IRS Use Only-Do not write or staple in this space. See separate instructions. . 20 Wells last name Foreign country name 1 10 11 12 13 14 15b 16b 17 18 19 20b 21 22 140,000 24 25 26 27 28 29 30 31a 32 33 34 Domestic production activities deduction. Attach Form 8903 35 Add lines 23 through 35 Subtract line 36 from line 22. This is your a djusted gross income For Disclosure, Pnvacy Act, and Paperwork Reduction Act Notice, see separate instructions. ... 36 37 Cat. No. 11320B 140,000 Form 1040 (2015) Assignment Geier Textbook - Chapter 1 Page 43 Sheila and Shane are married and have two children: Erik, age 17, who is a junior in high school, and Becky, age 10. Sheila does not work outside the home, and Shane is an electrical engineer who earns $130,000 working as an employee of Tectronics, Inc., in 2015. Together, they also receive $10,000 in interest on corporate bonds and $5,000 in interest on Ohio state bonds. In Chapter 2, you will learn that the interest on the Ohio state bonds is excludable from Gross Income under the authority of 103. They contribute $5,000 to the Cleveland Orchestra, which is a deductible contribution under 170. They pay $7,000 in real property taxes on their personal residence to their local Ohio county jurisdiction, and they pay $8,000 in Ohio state income taxes for 2015, both payments of which are deductible under 164(a). They also pay $6,000 in interest on their home mortgage, which satisfies the definition of \"qualified residence interest\" within the meaning of 163(h)(3) and is thus deductible (as explored more fully in Chapter 18). Finally, Shane pays professional dues and travels to several professional association meetings in the field of electrical engineering out of his own pocket in order to keep up to date on the latest information in his field, even though Tectronics, Inc., does not reimburse these costs to Shane. The total amount https://www.cali.org/books/us-federal-income-taxation-individuals-2015 Questions 2 - Use the information from this question (Sheila and Shane) to complete page 2 (only) of Form 1040. (You completed page 1 last week) This form can be found at irs.gov. Use the form for 2015. You can hand write to complete the form or complete electronically. You completed page 1 of the Form 1040 last week. For page 2, you will need to become familiar with the tax tables. Please itemize deductions (Schedule A) using the information in the problem. Assume that federal tax withheld is $30,000