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