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TAX 650 Milestone Four Guidelines and Rubric In this milestone, you will submit drafts of completed tax forms for the client described in the final project. You will use these forms to support your client recommendations in the final project. Specifically, the following critical elements must be addressed:
A. Prepare the appropriate page of Form 1040 and include the sale of the client’s land on the appropriate tax schedule and form for the recommended business entity.
B. Prepare the appropriate schedules to reflect taxable income based on your calculations and the disposition of asset. Be certain to complete each tax schedule accurately and completely.
Guidelines for Submission: This assignment will be submitted as completed tax forms, which are provided to you in your textbook resource CD or on the IRS website. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Form 1040 Prepares the appropriate page of Form 1040 accurately and completely, including the sale of the client’s land
Prepares the appropriate page of Form 1040 on the appropriate tax form, but details are either incomplete or inaccurate
Does not complete the appropriate page of Form 1040 and does not include the sale of the client’s land on the appropriate tax form and schedule
50
Form 1040 Schedules Prepares the appropriate schedules accurately and completely, reflecting taxable income based on calculations and the disposition of asset
Prepares the appropriate schedules reflecting taxable income but details are incomplete or inaccurate
Does not prepare the schedules reflecting taxable income
50
Earned Total 100%