Tax return project | Accounting homework help

  

 Tax Return Project 

Problems: Chapter 8-53 (Janice Morgan) South-Western’s Federal Taxation, Comprehensive Volume (2021). Prepare the Tax Return for 2020.

Changes to Problem: Change all year-ends to one year later; that is, 2019 becomes 2020.

The following information should be helpful in your preparation of the tax return.

(1) (a) Requirement: Prepare the federal income tax return on the appropriate IRS forms. (Even if you use a software program, you must turn in manual entries on IRS forms.) Copies of those forms and instructions are available at www.irs.gov

(b) Additional Requirements: Prepare a brief top sheet summarizing the factual information in the format of the tax formula.

(2) Strategy: You might want to start with page 1 of the 1040 and manually make entries (pencil recommended). You may then need to do subsidiary forms (e.g., Schedules C). You might also want to work out the figures for the tax formula roughly first before beginning the return.

(3) Check figures: 

Adjusted gross income 20,263 Itemized deductions 12,650

Taxable income  6,040   None of SE tax is deferred, so likely only page 1 of 1040 SE required.

Please note itemized 12,650 is before 300 charitable might be taken on line 10b if taxpayer elects standard deduction. Taxpayer wants greater of itemized or standard plus 300.

(4) Check forms:  (please include in your return): 

, manual return

c. Forms: 1040 pages 1 and 2; Schedules 1, 2, 3, A, B, C, SE; Forms 8995 and 4562

(6)  Additional helpful information:

a. Please use the sequence numbers in the upper right-hand corner of the official IRS forms for the proper order

b. Do not calculate next year’s estimates or any late filing penalty or interest.

c. There is a QBI deduction on Form 1040, page 1, line 10.

University Writings
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.