Reference no: EM13514997

ObjectivesBack to TopThe objective is to complete, in four successive parts, a comprehensive federal tax problem of moderate difficulty.

GuidelinesBack to TopThe Tax Project requires you to complete Appendix E, Problem 1, in four parts. Each part will have you complete selected paragraphs from the problem. You must select the appropriate tax forms in Doc Sharing to complete the project, or use a tax software program.

• Part I is worth a possible 25 points.
• Part II is worth a possible 25 points.
• Part III is worth a possible 25 points.
• Part IV is worth a possible 75 points.

The entire Tax Project is worth a total of 150 points.

• Part I is due at the end of Week 3.

•Part II, which includes work you did during Part I, is due at the end of Week 5 and includes additional items of Appendix E, Problem 1.
•Part III, which includes the work you did during Parts I and II, is due at the end of Week 6 and includes additional items of Appendix E, Problem 1.

• Part IV includes all previously completed items and completes the problem in its entirety. Part IV is due at the end of Week 7.

After you have downloaded the tax forms from Doc Sharing during Week 2 of the course, you are encouraged to immediately begin completing the Part I (Week 3) assignment.

Please read the entirety of Appendix E, Problem 1 before beginning the assignment. It has several paragraphs of instructions.

All DeVry University policies are in effect, including the plagiarism policy.

Any questions about this paper may be discussed in the weekly Q & A discussion topic.

Please see the Syllabus for the late assignment policies.

Part I

For the Part I (Week 3) assignment, you are asked to use the introductory sentence about the tax payer and complete paragraph items 14 and 16. You will also use item 18 for needed Social Security numbers. Do notdo additional work from any other paragraph.

Determine the forms to be completed. Once completed, save your form(s) as Your Last Name - formname (e.g., Smith-f2106.pdf). Submit your assignment to the Week 3 Assignments Dropbox.

Note: Optional Tax Software: Please note that DeVry does not provide tax software to complete the project. Using software to complete the project is optional, not required. The forms are provided in Doc Sharing for your use. Students who desire to use the software to complete the project have the following options:

H&R Block At Home: The software is included with the purchase of the hard copy of the textbook. You may use the software disk provided and follow the installation instructions. You may review the student companion website or contact the publisher's customer service to obtain information regarding the purchase of the H&R Block At Home software online. If purchased and used to complete your project assignment, you will need to submit the file created by the software.

• Save your work as an H&R Block At Home file.
• Save the problem as a PDF file.

TurboTax: If you purchased TurboTax and completed your assignment as a TurboTax file, you will need to submit your assignment as a PDF file before submitting it to your instructor.

Part II

For the Part II (Week 5) assignment, you are asked to do the following:

• Use the Part I assignment you completed previously.

•Correct your Part I assignment mistakes, if any, based on the solution you were provided by your instructor at the end of Week 4.

• Complete the following additional paragraph items: 1, 2, 3, 6, and 15.
• Assume that section 179 is taken for the laptop.

Save your file as Your Last Name - formname (e.g., Smith-f2106.pdf), and submit it to your instructor via the Week 5 Assignments Dropbox.

Part III

For the Part III (Week 6) assignment, you are asked to do the following:

• Use the Parts I and II assignments you completed previously.

•Correct your Part II assignment mistakes, if any, based on the solution you were provided by your instructor at the end of Week 5.

• Complete the following additional paragraph items: 4, 5, 7, 8, and 13.

•Assume that section 179 is taken on the cabinet and assume that no bonus depreciation was taken on the rental furniture purchased in 2010.
Save your file as Your Last Name - formname (e.g., Smith-f2106.pdf), and submit it to your instructor via the Week 6 Assignments Dropbox.

Part IV

For the Part IV (Week 7) assignment, you are asked to do the following:

• Use the Parts I, II, and III assignments you completed previously.

•Correct your Part III assignment mistakes, if any, based on the solution you were provided by your instructor at the end of Week 6.

• Complete the following additional paragraph items: 9, 10, 11, 12, and 17.

 

• Assume that a like-kind exchange was done on #9.

Save your file as Your Last Name - formname.pdf (e.g., Smith-f2106.pdf), and submit it to your instructor via the Week 7 Assignments Dropbox.