Assessment 4 Instructions: Itemized Deductions, Schedule A
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Instructions:
Assessment 4 Instructions: Itemized Deductions, Schedule A
Determine itemized deductions and complete a Schedule A for a tax scenario.
Note: Completing a tax form requires specific steps that need to be executed in sequence. The assessments in this course are presented in a sequence and must be completed in order. Incorrect entries in previous assessments will result in incorrect entries in future assessments. Do not complete Assessment 4 until you have submitted and received faculty feedback for Assessment 3.
“If you make any money, the government shoves you in the creek once a year with it in your pockets, and all that don’t get wet you can keep.”— Will Rogers, American cowboy and humorist.
Staying with Will Rogers’ analogy, Schedule A is analogous to a sealed sandwich bag that protects some of the coins from the raging waters of government greed. If you are fortunate enough to have made significant income during a tax year, it is quite possible that you also have significant deductions to offset those monies. The Schedule A tax form allows taxpayers to itemize their deductions, rather than using the standard deduction.
Quotegarden.com. (n.d.). Quotations about taxes http://www.quotegarden.com/taxes.htm
Note: The assessments in this course are presented in a sequence and must be completed in order. In Assessments 2-5, you will work step-by-step toward completing a 1040 tax return and all the necessary related forms, based on a provided scenario. Do not complete Assessment 4 until you have submitted and received faculty feedback for Assessment 3.
The Schedule A tax form allows taxpayers to itemize their deductions, rather than using the standard deduction. For this assessment, you will determine itemized deductions for the Weavers for Schedule A.
Jacob and Taylor Weaver, ages 45 and 42 respectively, are married and are filing jointly in 2021.
For this assessment, complete the following:
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Assessment 4 Instructions: Itemized Deductions, Schedule A
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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