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Tax Documents

Dennis and Mary have never been in a high enough tax bracket to worry much about tax planning. They have their standard deductions for their mortgage interest, retirement plan contributions, and property taxes. Table 15-2 and Figure 15-1 show the Glovers' current assets.

Table 15-2. The Glovers' Current Assets
AssetValue ($)
House350,000
Dennis's 401(k)79,000 (stock mutual funds)
Mary's TSA57,000 (fixed annuity)
Money market account30,000
CD10,000
Stocks11,000
Equity mutual fund5,000
Government bonds30,000
Total574,004



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