Acc 5170 Tax Return Project – 2016

ACC 5170 Tax Return Project – 2016

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ACC 5170  Tax Return Project – 2016

ACC 5170

Tax Return Project

Winter 2016

Use the following information to prepare the various schedules/forms for Luke and Ann that are indicated on the class schedule of assignments. You will also use this information (and the information from the various schedules that you will have prepared) to prepare a federal form 1040 for Luke and Ann for 2015. Be sure to include all necessary forms and schedules to complete the tax return even if they were not prepared as individual assignments. Also, please put all forms for your completed Form 1040 in the proper order per the IRS attachment instructions. You may obtain the necessary forms and instructions from the IRS website:  www.irs.gov which has a forms and publications tab.  The tax return submitted and the various schedules MUST BE HAND WRITTEN.  

For the individual form submissions and for the final form 1040, you must prepare the cover sheet (last page of this document) that details any assumptions made regarding issues on the individual forms or on the tax return as a whole. Place the completed assumptions sheet on top of your forms or tax return when you submit the finished products.  (Make sure your completed tax forms are consistent with your final stated assumptions.)  The cover sheet may be typed.  You may add additional rows to the cover sheet if necessary. 

Also, if you combine any numbers to place them on the forms or the tax return please show the detail on the assumptions sheet. Also be sure to label any items placed on the forms or tax return so they can be identified.  

Special instructions for your initial submission of Schedule A: 

**Note: these instructions only apply to the schedule that will be submitted before the final return is due. 

For purposes of the initial Schedule A, use $100,000 as the Adjusted Gross Income amount. ...