1- What is Kevin and Jim's 2015 federal income tax return (use Form 1040, Schedules A and B and Form 8283, if necessary). Last year they filed as married filing jointly.

2- Explain to the taxpayers how you computed their tax, any assumptions you made or questions you would have liked to know the answers to, and any planning advice you would recommend going forward. The memo can be in any format and should be less than a page long, but more than a few sentences.

FACTS

This is information relating to Kevin and Jim Jones for 2015. Kevin and Jim are married and have 2 adopted children, Aubrynne (a girl) and Bryson (a boy). They live at 236 9th Ave., New York, NY 10011

Kevin is a lawyer who works for a law firm. Jim works part time in a genetic research lab.

The Jones' Social Security numbers and ages are as follows:

Name S.S. No. Age

Kevin 111-11-1111 32

Jim 222-22-2222 28

Aubrynne 333-33-3333 5

Bryson 444-44-4444 3

Kevin's salary $94,000

Jim's salary 32,000

Municipal bond interest 2,400

Interest on C.D.s at Universal Savings 3,100

*Qualified dividend on GM stock 1,600

*Qualified dividends should be reported as both qualified and ordinary on the tax forms.

Expenditures

Eye exam and eyeglasses for Aubrynne 600

Orthodontic work to correct Bryson's congenital defect 2,500

Medical insurance premiums (paid on an after tax basis) 1,800

State withholding for income tax 7,200

Federal withholding for income tax 16,000

State income taxes paid with last year's return 500

Property tax on condo 1,100

Ad valorem Property tax on automobile 300

Home mortgage interest 9,700

Interest on credit cards 200

Cash contribution to Meditation center 3,900

Cash contribution to a senator's campaign 1,500

Charitable donation of stock

On September 17, Kevin and Jim donated Beta Trade Inc. stock to a university Accounting Scholarship Fund. Beta Trader, Inc. is publicly traded. Kevin and Jim had purchased the sock on November 7, 2003 for $300. On the date of donation, the fair market value of the contribution is $700.

Miscellaneous

The taxpayers did not have signature authority over a foreign bank account.

The taxpayers did not receive a distribution from a foreign trust.

No state tax returns.

Do not worry about Alternative Minimum Tax (AMT)