TAX PROJECT(1) WITH 2 EXTRA CREDITS.doc - ORPORATION INCOME TAXATION SPRING SEMESTER 2020 INCOME TAX PROJECT This Income Tax Project comes with three(3

TAX PROJECT(1) WITH 2 EXTRA CREDITS.doc - ORPORATION INCOME...

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ORPORATION INCOME TAXATION SPRING SEMESTER 2020 INCOME TAX PROJECT This Income Tax Project comes with three (3) options. You may complete either of the three (3) options you choose. OPTION 1 Option 1 is a C (Regular) Corporation Tax Return. OPTION 2 Option 2 is a Partnership Tax (Information) Return. OPTION 3 Option 3 is an S Corporation Tax Return. The Income Tax Return may be prepared manually or using the PROSERIES (TURBOTAX) software ( or some other Federal Income Tax (or Information) software that you may have access to) that is located on the Network System in the Computer Center on the Eight floor (South) at the University Of Houston-Downtown Campus (and the second floor classrooms in the Shea Street College Of Business Building) (or on the personal computers at UHD-Northwest at Lone Star College-University Park). If you choose to prepare the Income Tax (or Information) Return using the ProSeries (TurboTax) software in the Computer Center (or at UHD-Northwest at Lone Star College-University Park), the following information applies. The ProSeries (TurboTax) software may be accessed from any personal computer in the Computer Center that is connected to the Network System at the University Of Houston-Downtown Campus (or on the personal computers on the personal computers at UHD-Northwest at Lone Star College-University Park). Please bring a device to the Computer Center in order to save your data. (Please be sure that the device is capable of saving your data). To assist you in using the ProSeries (TurboTax) software, an operator's manual is available in the Computer Center (or at UHD- Northwest at Lone Star College-University Park). Below is a listing of basic instructions in operating the software. INSTRUCTIONS Click on START and enter "PROGRAMS " and locate "ProSeries 2019 ". Click on "2019 ProSeries ". The software will appear on the screen. CREATING CLIENT/INPUTTING DATA Click on "New " to create a new client. You will select the type of Income Tax Return. Choose the Income Tax Return for which of the three (3) options that you choose to prepare an Income Tax Return. After selecting a type of Income Tax Return, the first document that you will enter (automatically appears on the screen) will be the "Information Worksheet" (preceded by the name of type of Return chosen, ie. Partnership, etc.). Complete all necessary information on the "Information Worksheet". To enter specific tax related information, you must enter the form, schedule or document that relate to the tax related information you wish to enter. Much of the information will be entered on the forms labeled page 1-2. To go to a specific Form or document, you may either click on "Forms " (and then click on “Select Form”), hit the "F6" key or hit "Control F" then highlight the desired Form, Schedule or document (or press the lighted letter(s) and/or
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number(s) of the desired Form, Schedule or document) and press return (enter).
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