Tax Project: Based on the information provided below, complete a 2020 Form 1040 and any supporting schedules/forms for Bob and Melissa Grant. A Kentucky state income tax return is not required. You should complete this tax return manually using the forms available from the IRS website, www.irs.gov. You may not use software to assist in preparing the forms. You may find the form instructions helpful in completing this assignment. Please provide a list of assumptions you make, if any. Your project will be graded subject to any reasonable assumptions listed. You do not need to calculate AMT. The 1040 and all supporting documents are to be typed, neat, and professional. One hundred points are assigned to this project. Please include your name in the paid preparer’s box of the 1040. Attach a cover letter summarizing the return, such as refund, tax owed, average and effective tax rates.
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