ACCT 308 - Individual Income Tax
Rhett and Scarlett Butler provide you with the following information for 2015:
Rhett SS # 222-33-1234
Scarlett SS # 111-22-1234
Address: 1436 Franklin Pike
Slippery Rock, PA 16057
In addtion Scarlett's father Mike O'Hara (SS# 111-11-1111) lives with them. Mike's only source of income is his Social Security.
Capital Gains
On 2/14/2005 Rhett and Scarlett bought 100 shares of Microsoft for $26 per share plus a commission of $50. On 7/31/15 the sold all 100 shares for $43 per share less a commission of $100. On 1/15/15 the bought 100 Shares of Big Sky Mining for $2,000. On 9/15/15 they sold the Big Sky for $1,500.
Scarlett paid $2,400 for health insurance premiums during the year. She is not covered by Rhett's plan.
Scarlett contributed $5,000 to her self-employed retirement plan during the year
Required: Prepare rhett and scarlett's 2015 tax return.
Attachment:- Assignment.rar