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I was not at all happy with my scores this week. I had anticipated doing much better than I did, as I have been completing
I was not at all happy with my scores this week. I had anticipated doing much better than I did, as I have been completing tax returns for many years. However, as I mentioned going into this class, while I have a working knowledge of credits, losses, AGI, etc., no manual calculations are done. The software calculates everything based on the information entered. How to do the calculations is what I had hoped to gain a better understanding of at the beginning of this course. For Study Unit 7, my overall score was an 81%. Subunit 7.1 Above-the-Line Deductions was my best, having scored a 100%. For both subunits 7.2 Standard and Itemized Deductions and 7.3 Qualified Business Income Deduction (QBID), my scores were 75%. I felt I should have done much better on the standard and itemized deductions section, as they are a basic part of a tax return. Moving forward, I plan to dedicate more study time to the areas needing improvement, utilize the study sessions, take better notes on income phase-out limits, and work through some of the calculations and problems discussed in the videos. Study Unit 8 wasn't much better, having scored a 75% overall. For Subunits 8.1 Tax Credits and 8.2 Losses and Limits, my individual scores were 50% and 86%, respectively. Again, I thought I would have performed much better, at least on the Tax Credit section of the diagnostic quiz. Clearly, I need more review of the material. One additional suggestion that was pointed out in the videos that could be helpful was having a blank tax return (and supporting schedules) to review while working through some of the calculations and questions. I will try this approach and see if that helps increase my understanding in these areas
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