dolution

(Obj. 4) Ted R. Langley (SSN 556-89-8227) lives at 118 Oxford Ave., Oak Park, IL 60725. In 2014, he has the following income and deductions.

In addition to the above, Ted had federal income taxes withheld of $22,908 during the year. He also paid $25,000 for $47,000 worth of stock through an incentive stock option plan at work. Ted is divorced and claims his 15-year-old daughter, Teresa Langley (SSN 882-94- 6648), as a dependent. Teresa lived with her father 10 months during the year.

Based on this information, prepare Ted’s 2014 tax return, including Form 6251 to compute his AMT. Ted does not want to contribute $3 to the Presidential Campaign Fund. He does not have a foreign bank account nor did he receive a distribution from a foreign trust. He signs his return on April 15, 2015.