Instructions:

Please complete the 2015 federal income tax return for Kenneth and Joanna Glover. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps.Schedule A!B!C!D,E only

Kenneth and Joanna Glover live in Columbia, South Carolina. Kenneth is the Vice-President of State Farm Company, a small insurance company. Joanna is a former legal executive who currently consults with former clients. She also serves on the board of directors of a retail marketing company. The Glover have three children Robert (age 17), George (age 15), and Kenneth, Jr. (age 12). In January, Robert left home to attend college. All three children qualify as Kenneth and Joannas federal income tax dependents. The Glovers plan to file a joint tax return. The Glovers provided the following information:

Kenneths social security number is 009-35-2583

Joannas social security number is 306-03-4292

Roberts social security number is 805-65-0187

Georges social security number is 809-35-9092

Kenneth Jr.s social security number is 850-35-8504

The Glovers mailing address is 135 Blue Pointe Circle, Columbia, South Carolina 29401

Kenneth Glover reported the following the following information relating to his employment during the year:

Employer	Gross Wages	Federal Income Tax Withholding	State Income Tax Withholding
State Farm Insurance	$135,750	$38,250	$10,650

The above amounts do not reflect any income items described below. Kenneths employer withheld all payroll taxes it was required to withhold. The entire Glover family was covered by minimum essential health insurance during each month in 2015. The insurance was provided by Kenneths employer, State Farm Insurance.

Joanna Glover received the following revenue during the year (she uses the cash method of accounting).

Consulting revenue reported to her on a Form 1099-MISC, Box 7

Anthony Jenkins Funeral Home $43,500

GNC Health Products $6,798

Farm Insurance Bureau $4,859

Board of director compensation reported to her on a Form 1099-MISC, Box 7

Donna Karen Inc. $7,519

During the year, Joanna paid the following business expenses:

Consultant-related:

Airfare $3,750

Hotel $1,950

Meals $375

Parking $250

Joanna drove 1,550 business miles for her consulting-related activities (she has documentation to verify)

Board of Director-related:

Meals $375

Hotel $575

Joanna drove 550 business miles for her board of director activities (she has documentation to verify)

Neither of Joannas business activities s required the filing of Form(s) 1099 to report payments she made during the tax year. In addition, Mrs. Glover drove a 2012 Lexus purchased on January 1, 2013 for all of her business mileage. She drove the vehicle a total of 15,325 miles during the year for all purposes. Joanna has written documentation to support the mileage amounts. She also has access to another vehicle for personal purposes.

The Glovers also received the following during the year:

Interest income from First Citizens $745

Interest income from Richland School District One $495

Interest income from U.S. Treasury Bond $675

Interest income from Berkshire Bond $790

Qualified dividend income from CPM, LLC $1,750

Qualified dividend income from Microsoft $750

Qualified dividend income from Cooper Wire $275

Qualified dividend income from Cardinal Health $475

Qualified dividend income from Union Pacific $345

Qualified dividend income from Procter & Gamble $295

Qualified dividend income from PepsiCo $375

Qualified dividend income from Kellogg $375

Qualified dividend income from Abbott Labs $295

Qualified dividend income from 3M $395

Dividend income (not qualified) from Greece Fund $2,095

The Glovers did not own, control or manage any foreign bank accounts nor were they a grantor or beneficiary of a foreign trust during the tax year.

The Glovers had the following activity in their brokerage account during the year (all transactions were reported on a Form 1099-B. Basis information on each stock sale was reported to the IRS):

Sold 2,000 shares of Microsoft 4/28/15 $22,500

Sold 75 shares of Apple, Inc. 1/18/15 $28,750

Sold 350 shares of Cooper Tire 12/11/15 $14,700

Sold 1,000 shares of Cardinal Health 6/13/15 $35,000

Sold 50 shares of Union Pacific 3/27/15 $2,750

Relevant tax basis/holding period information related to sales of securities in the current year:

Purchased 2,000 shares of Microsoft on 1/11/15 for $21,000

Purchased 200 shares of Apple, Inc. on 10/18/2012 for $90,000

Purchased 300 shares of Cooper Tire on 9/11/2011 for $9,000

Purchased 50 shares of Cooper Tire on 3/31/15 for $2,000

Received 1,000 shares of Cardinal Health from Joannas father as a gift on 8/11/98. Her fathers basis in the stock at the time of the gift was $7,000. Fair market value of the stock at the date of the gift was $41,000

Purchased 100 shares of Union Pacific on 7/15/13 for $6,000

The Glovers have a $43,000 long-term capital loss carryover from their prior tax year.

The Glovers received a South Carolina state income tax refund of $770 in May of 2015. The Glovers received the refund because they had overpaid their South Carolina state individual income tax in 2014. On their 2014 Federal income tax return, the Glover deducted and received tax benefit for all of the state tax income taxes they paid in 2014.

Joanna is a 10% owner in an advertising agency named TJ Housing Inc. (TJ) (EIN 20-3456789). TJ is a Subchapter S corporation. The company reported ordinary business income for the year of $225,000. Joanna received a K-1 from TJ reporting her allocation of this business income. Joanna acquired the stock several years ago. Her basis in the stock before considering her 2015 income allocation was $95,000. Joanna is a passive owner with respect to this entity.

Joanna is also a 20% owner in Bingham Consulting (BC) (EIN 24-6785980). BC is a Subchapter S corporation. The company reported an ordinary business loss for the year of ($95,500). Joanna received a K-1 from BC reporting her allocation of this business loss. Joanna acquired the stock several years ago. Her basis in the stock before considering her 2015 loss allocation was $75,000. Joanna is a passive owner with respect to this entity.

In May, Kenneth was injured in a home accident. The injury prevented Kenneth from working for about a month. During this time, Kenneth received $15,000 in disability payments attributable to a disability insurance policy. The disability policy premiums were paid on Kenneths behalf as a nontaxable fringe benefit.

The Glovers paid the following expenses during the year:

Dentist (unreimbursed by insurance) $2,750

Doctors (unreimbursed by insurance) $ 2,425

Prescriptions (unreimbursed by insurance) $ 675

Real property taxes on residence $5,525

Vehicle property tax based upon value $1,650

Mortgage interest on principal residence $15,750

Margin interest paid to broker $600

Contribution to United Way $1,350

Contribution to American Cancer Society $3,450

Contribution to neighborhood drive to oppose development project $1,075

Contribution to First Shandon Baptist Church $10,750

Contribution to American Heart Foundation $365

Fee paid to Mouser, Johnson, and Hints CPAs for tax preparation $450

The Glovers also donated clothing, electronics, furniture and other household goods to the Salvation Army of Columbia, South Carolina on April 15, 2015. Estimated thrift value of the goods donated was $375. The items were purchased at cost for an estimated $975.

Miscellaneous Information

During the year, the Glovers paid a portion of Roberts tuition to attend Strayer College. They also purchased Roberts school books. Robert attended the spring/summer and the fall semesters as a full-time student. In total, the Glovers paid $9,000 for tuition and $2,000 for books. Robert used $6,000 from a scholarship he received from Strayer College to pay the remaining $6,000 of tuition for the year. Robert was not required to perform any services as a condition of accepting the scholarship. Robert was not employed during the year. Strayer Colleges address and employer identification number (EIN) is as follows:

Strayer College

65 College Street

Columbia, SC 29223

EIN- 22-3569081

The Glovers would like to contribute to the Presidential Election Campaign. The Glovers would also like to receive a refund (if any) of tax they may have overpaid for the year. Their preferred method of receiving the refund is by check.