346 Return 2012 part 01 - ACCT 346 Tax Return Information...

This preview shows page 1 - 2 out of 4 pages.

ACCT 346 Tax Return Information- Part 1 (C Corporation) Fall 2013 Overview The case study consists of four parts, each with its own set of requirements. Each part builds on the information developed in the preceding parts: Part 1 presents financial information for a C corporation that must be used to prepare a basic Form 1120. Part 2 presents financial information for a partnership that is substantially identical to the information used by the C corporation. That information is used to prepare a basic Form 1065 and the related Schedule K-1s. Part 3 presents financial information for an S corporation that is substantially identical to the information used by the partnership and the C corporation. That information is used to prepare a basic Form 1120S and the related Schedule K-1s. Part 4 presents financial information for the individual taxpayer (Ms. Maine), including the information related to the C and S corporations and the partnership. That information is used to prepare a basic Form 1040. The objective of this case study’s approach is to have you focus on how the tax treatment of essentially the same income/expense item varies by the type of entity, not to have you become a tax return expert.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture