Students will complete both tasks for the option assigned:
- Task 1: Prepare an S-corporation tax return utilizing the option provided provided by the instructor.
- Task 2: Complete an individual income tax return with the assumption that one of the shareholders from the entity return is your client. Reference either “Topic 8 Tax Return Problem Data Set A, Problem C:11-61” (Option 1) or “Topic 8 Tax Return Problem Data Set B, Problem C:11-62” (Option 2), as applicable to the option provided by the instructor and used for the completion of Task 1, in order to properly prepare the individual tax return.
Refer to the resource, “Tax Rate Schedules and Other Items,” located in the course materials.
Utilize one of the following resources, “Topic 8 Entity Tax Return: Check Figures C:11-61” (Option 1) or “Topic 8 Entity Tax Return: Check Figures C:11-62” (Option 2), as applicable to the option assigned by your instructor.
When submitting to LoudCloud, the tax returns should be in a single document. Do not scan and submit the completed tax forms individually as it may cause a delay in grading. Name the file LastnameFirstinitial.ACC460.TR2, where the TR2 refers to the Tax Return 2 assignment. The course materials contain information on how to compress documents from a PDF to a Word document in an effort to decrease files to upload to LoudCloud.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are not required to submit this assignment to LopesWrite.