Bob and melissa grant are married and live in lexington


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.

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The following information relates to the Grant’s tax year:




  • Bob’s Social Security number is 987-45-1234

  • Melissa’s Social Security number is 494-37-4883

  • 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                                                            $150


Interest Income from City of Lexington, KY Bond                                                              $450


Interest Income from U.S. Treasury Bond                                                             $700


Interest Income from Nevada State School Board Bond                                 $125


Workers’ Compensation payments to Bob                                                           $4,350






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



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 of


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.




The Grants held a yard sale on May 15th. They collected $1,000 from the sale of their personal items. The Grants originally paid $6,000 for the items sold and the fair market value of the items at the date of sale was $1,500.




During the year, the Grants sold the following stocks:



Sales Price

Purchase Price

Sales Date

Purchase Date

ABC Stock





DEF Stock





GHI Stock





JKL Stock








The Grants do not have any capital loss carryforwards from prior years.


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 Printer















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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