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Please use IRS Publication 525 and California 540A / 540 Booklet to complete the this topic.
Prepare a Federal Form 1040 , and a California Form 540A return for Yohannes Mulugeta.
Yohannes, age 23, and has never been married and has no children. Last year he did not itemize deductions.
He received the following in 2007:
 | $123.00 in interest income from Bank of America. |
| $2,100.00 in Unemployment Compensation. |
| $ 950.00 refund from his state. |
| $600 bonus promised to be paid by his employer in February 2008. |
| Turkey valued at $50 for the December holidays. |
| $80 gift certificate for Thanksgiving. |
Yohannes owed Sears & Roebuck (Department store) $800. He fell behind on the bill and could not pay. Sears offered to cancel $500 of the debt to have Yohannes settle the debt. Yohannes paid only $300 and the rest was forgiven.
He paid rent at a government owned building that is exempt from tax.
Get all their basic information from the following W2, including income information.
Have your return prepared and ready to answer the questions.
Option 1: Complete Quiz online.
Instructions to submit quiz successfully: Step-by-Step check list
When prompted for your name, please enter your CTEC or Preparer Number (if you have a number) with your name as follows: First, last name, Number (e.g. John Smith A012345 / John Smith P012345)
Start quiz
Option 2: Complete and mail answer sheet.
If you choose not to complete the quiz by pressing "Start quiz" above, you can print questions and answer sheet to mail to us. If you complete the online quiz, the advantage is that you get an automatic score as apposed to waiting for a response on a manually graded quiz. You can also print the questions and answer sheet and after you answered the questions on paper submit it online by choosing "Start Quiz" above. Please don't sent answer sheet by certified mail.
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Please Note: You must also complete the tax return for this assignment. If you turn in incomplete work, such as purposely not answering the questions regarding the return you prepared, you will not be given credit for the topic.