Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

Exercise 57

Carl and Elizabeth Williams are married filing jointly. They are 45 and 40 years old, respectively. Their address is 19010 N.W. 135 Street, Miami, Florida 33022. Additional information about Mr. and Mrs. Williams is as follows:
Social security numbers:
Carl: 412-34-5670. Elizabeth: 412-34-5671.
From 1099-INT for Carl and Elizabeth shows this amount:
Box 1 = $2,450 from Global Bank.
They also received tax-exempt interest of $500, as well as $45 for jury duty pay when
Carl went to court to serve for a few days.
Carl received two weeks of workers' compensation pay for a total of $3,100.
Dependent: Son, Carl, Jr., who is 7 years old. His social security number is 412-34-5672.
Carl is a sales manager, and Elizabeth is an office clerk.
Prepare the tax return for Mr. and Mrs. Williams using the appropriate form. They do not want to contribute to the presidential election campaign.