Beside the tax return problem which you must complete, I am also attaching the necessary forms and a depreciation schedule that all must be submitted. As an alternative, you can use the Tax Act software if you have access, to prepare the tax return. Whether you manually complete the tax forms or use Tax Act, you must submit all forms & calculations in Canvas in order to get full credit. For those students that are not using Tax Act, your grade will be adjusted accordingly since using the software eliminates some of the calculations necessary to complete the problem. I am also attaching the tax rate tables necessary to calculate the actual income tax liability. please see the attachment for the question and the depreciation worksheet.
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