INDIVIDUAL INCOME TAX ACCOUNTING LAB
Provides a supervised setting, with instructional support, to apply understanding of federal individual income tax rules and regulations to specific tax problems.
ACTG 222 and ACCT& 201, or Instructor approval. Concurrent with ACTG 291.
- Prepare a Form 1040EZ using a W-2 and the appropriate tax tables to determine tax liability.
- Prepare Form 1040A using the proper source documents and tax tables.
- Prepare a Form 1040, including a Schedule A, B, C, D, SE, etc., using the proper source documents and tax tables.
- Prepare supplemental forms and appropriate worksheets (Form 2441, 8863, Schedule EIC, M, L, etc.)
- Able to identify different forms necessary to gather data for taxes. (W2, W4, 1098’s,1099’s – INT, MISC, G, T, etc.)