Tax return

Form 1040. William A. Gregg, a high school educator, and Mary W. Gregg, a micro biologist, are married and file a joint income tax return for 2015. Neither Willia nor Mary is over 50 years old, and both have excellent sight. They provide the sole support of their three children: Barry, Kimberly, and Rachel (all under age 17). The following information is from their records for 2015: Salaries and wages, William $34,550 $2,320 44,800 4,360 690 220 1,400 Federal income tax withheld . Salaries and wages, Mary . . . . . . . . . . . . . . Federal income tax withheld . Interest income--Home Savings and Loan Interest income-City Bank . . temized deductions as follows: Hospitalization insurance. Unreimbursed fees of doctors, hospitals, etc.... Unreimbursed prescription drugs. Real estate taxes on residence . . . . . . . .. .. 320 740 310 1,350 2,440 720 8,430 State sales taxes paid. Interest paid on original home mortgage...... Charitable contribution-Faith Church Charitable contribution-State University Quarterly estimated federal taxes paid 1,720 200 3,500 Calculate the 2015 Federal income tax and the tax due (or refund) for the Greggs assuming they file a joint return. Form 1040, along with Schedules A and B, may be completed. Supply fictitious information for the address and Social Security numbers. (Note: Use 2014 tax forms since the 2016 forms may not be available.)