Bob and Melissa Grant 1040 tax return



Return-Individual Two (after Chapter 7)


Please complete the required federal individual
income tax return forms for the following taxpayer. Unless instructed otherwise, the information
provided is for the taxpayer’s 2012 tax year.
Please complete his 2012 tax return.
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.

Bob and Melissa Grant are married and live in Lexington,
Kentucky. The Grants have two children Jared
age 15 and Alese age 12. The Grants
would like to file a joint tax return for the year.

The following information relates to the Grant’s tax

Bob’s Social Security number is

Melissa’s Social Security
number is 494-37-4893

Jared’s Social Security number
is 412-32-5690

Alese’s Social Security number
is 412-32-6940

The Grants’ mailing address is 95
Hickory Road, Lexington, Kentucky 40502.

Jared and Alese are tax
dependents for federal tax purposes

Bob Grant received the following during the year:


Gross Wages

Federal Income Tax Withholding

State Income Tax Withholding

National Storage




Lexington Little League




Melissa Grant received the following during the year:


Gross Wages

Federal Income Tax Withholding

State Income Tax Withholding

Jensen Photography




All applicable and appropriate payroll taxes were
withheld by Grants’ respective employers.

The Grants also received the following during the year:

Interest Income from First Kentucky
Bank $130

Interest Income from City of Lexington,
KY Bond $450

Interest Income from U.S. Treasury
Bond $675

Interest Income from Nevada State
School Board Bond $150

Workers’ Compensation payments to
Bob $4,350

Disability payments received by Bob
on account of injury $3,500

National Storage paid 100% of
premiums the premiums on the policy and included the premium payments in Bob’s
taxable wages

Receipt of payment by Melissa as a
result of a lawsuit for damages sustained in a car accident:

Medical Expenses $2,500

Emotional Distress $12,000

Punitive Damages $10,000

Total $24,500

Eight years ago, Melissa purchased an annuity contract
for $88,000. This year, she received her first payment on the annuity. The payment amount was $15,000. The annuity started to pay on January 1 and
she received a full first year’s payment.
It will pay her $15,000 per year for ten years (beginning with this
year). The $15,000 payment was reported
to Melissa a form 1099-R for the current year (box 7 contained an entry of “7”
on the form).

The Grants 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 Grants paid or incurred the following expenses during
the year:

Dentist/Orthodontist (unreimbursed by insurance) $8,500

Doctors (unreimbursed by insurance) $ 625

Prescriptions (unreimbursed by insurance) $ 380

KY state tax payment made on 4/15/13 for 2012
liability $1,350

Real property taxes on residence $1,800

Vehicle property tax based upon age of vehicle $250

Mortgage interest on principal residence $8,560

Interest paid on borrowed money to purchase the City

Lexington, KY municipal bonds $400

Interest paid on borrowed money to purchase

U.S. Treasury bonds $240

Contribution to the Red Cross $1,000

Contribution to Senator Rick Hartley’s Re-election Campaign $2,500

Contribution to First Baptist Church of Kentucky $6,000

Fee paid to Jones & Company, CPAs for tax
preparation $200

In addition, Bob drove 6,750 miles commuting to work
and Melissa drove 8,230 miles commuting to work. Both the Grants have represented to you that
they maintained careful logs to support their respective mileage.

The Grants drove 465 miles in total to receive medical
treatment at a hospital in April.

During the year, the Grants’ personal residence was
burglarized on October 1 of the current year.
The theft occurred during the day while both the Grants were at work and
their children were at school. The
Grants had the following personal property stolen:


Purchase Date

Fair Value on Date of Theft

Tax Basis of Item

Insurance Reimbursement Received

Laptop computer and















2005 Honda Pilot









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


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