Reference no: EM13671393

Len and Christy Vole, ages 42 and 39 respectively, are married and file jointly in 2012. Len is a contractor operating as sole proprietorship (EIN 11-111111). Christy is employed, earning $24,000 as a part-time paralegal. They have two dependent children, Jill, age 8 and Lee, age 5. In 2012 they received $4,550 from Good Bank in taxable interest income. Theis allowedable itemized deductions include state income tax $3,700; home mortgage interest $6,000; and charity $5,000. Federal income tax withholding was $7,500 and estimated tax payments were $13,000. The Voles also incurred $7,000of qualifying child care expenses to enable them to work ($3500 for each child). It was paid to HiTop Daycare, 327 Fowler St., Indianapolis, IN 46802 (EIN 22-2222222). Len earns $95,000in profit in a sole proprietorship. He incurred the following expenses that qualify for the general business credit: $6,000 for disabled access and $8,500 of first-year wages paid to an employee who qualifies Len's business for the work opportunity credit (category (11) and worked 500 hours during the year. No adjustments are required to either credit and there are no carrybacks or carryforwards.
Social security numbers are Len, 111-11-1111, Christy 222-22-2222; Jill, 333-33-3333; Lee, 444-44-4444.
Complete the Vole's Form 1040, along with supporting Schedules A, B, C, and SE, Form 2441 (child and dependent care credit), Form 3800 (general business credit), Form 8826 (disabled access credit) and From 5884 (work opportunity credit). Show detail of the child tax credit computation