The K&B stock was a gift to Rhonda last Christmas of 100 shares from her Uncle Mike. At the date of the gift the fair market value was $8,000 and Mike had paid $10,000 for the stock in 2009 (his tax basis). The Growth Mutual Fund (currently valued at $13,900) had been acquired by Ike over the years for a total of $10,500 cost basis. INCOME TAX INFORMATION The filing status of the Sumralls for federal income tax is married filing jointly. Both the children (Sam and Jake) are claimed as dependents on the Sumrall's tax return as part of the divorce agreement. The Sumralls live in a state that does not have state income tax. RETIREMENT INFORMATION Ike currently contributes 3% of his salary to his 401(k). The employer matches each $1 contributed with $0.50 up to a total employer contribution of 3% of salary. GIFTS, ESTATES, TRUSTS, AND WILL INFORMATION