I need help with MIlestone 4 of TAX-650. I have to prepare the tax forms for Bob Jones, I have recommended Bob use a C-corporation.

In this milestone, you will submit drafts of completed taxforms for the client described in the final project. You will use these forms to support yourclient recommendationsin thefinal project.

Specifically,the following critical elementsmust 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