This guide is for ACCT 614 Week 3 Tax Return 1, start to submission. Complete the first estate or trust tax return for the scenario in the instructions, using the forms provided.
ACCT 614 is Estate, Trust, and Gift Taxation, 3 credit hours, in Liberty University's MS in Accounting. Canvas and the course guide file print the code as ACCT614; it is the same course.
| Course | ACCT 614 Estate, Trust, and Gift Taxation |
|---|---|
| Module/Week | 3 |
| Points | 100 points |
| Length | A completed return |
| Sources | The scenario, the forms and their instructions |
| Faith integration | Not required by the guide |
| Format | The applicable tax forms provided in the course |
What ACCT 614 Week 3 Tax Return 1 asks for
You complete tax returns using each of the 3 major forms used in estate and trust tax preparation, for scenarios detailed in the instructions. Each return is completed with the applicable forms and instructions provided in the course. Return 1 is due in Module/Week 3 with Hoffman chapter 3, the same week as Quiz 1. Worth 100 points.
Where it fits in ACCT 614
In the published schedule, Tax Return 1 is one of 9 graded written assignments in ACCT 614. It follows Week 2 Discussion Board Forum 1 and comes before Week 4 Discussion Board Forum 2.
How ACCT 614 Week 3 Tax Return 1 is graded
Liberty grades Tax Return 1 with the rubric attached to the assignment in Canvas, worth 100 points in the published guide. That is about 10% of the course's 1,010 points. The rubric rows are the real instructions. Draft against them, and you will rarely be surprised by the grade.
Course grades in ACCT 614 use Liberty's point scale: an A is 940 to 1010 points of the course total. Missing the length or source minimum usually costs points on several rows at once, which is why the checklist below starts with them.
Timing in the published guide: Module/Week 1 begins on Monday and ends at 11:59 p.m. (ET) on Friday. Modules/Weeks 2-8 begin on Saturday and end at 11:59 p.m. (ET) on Friday. Check the due dates in your Canvas section, which govern.
The ACCT 614 Week 3 method, step by step
Set up the data before the write-up
Work through the Tax Return 1 calculations or software steps first and save the output. The written part interprets those numbers, so they have to be right before you explain them.
Show the method
Say which method, formula or test you used and why it fits the question. Graders want to see that the choice was deliberate.
Report the results plainly
Give the key figures in a labeled table and mention each in the text.
Interpret in the context of the question
Explain what the results mean for the decision or question in ACCT 614, in plain terms. The interpretation is where the analysis points are earned.
Name the limits
Name the assumptions and limits. A result with its limits stated reads as professional.
Submit the files the guide asks for
Check which files Canvas expects (spreadsheet, output, written document) and that each is complete and labeled (A completed return).
A structure for ACCT 614 Week 3 Tax Return 1
Word targets are planning numbers for about 1,000 words of body text, set by the length in the guide; the rubric decides where to spend more.
| Section | What it must do | Target |
|---|---|---|
| Scenario facts | Organized by schedule. | ~220 words |
| The return | Every required part and schedule. | ~440 words |
| Calculations | Supporting computations. | ~200 words |
| Review | Totals and cross-references checked. | ~140 words |
A topic angle that works
Before filling in the form, list each fact and the line or schedule it belongs on. For a gift tax return, that means each gift, its value, the annual exclusion applied, any split-gift election and prior taxable gifts.
Model paragraph with notes
An original paragraph written by our desk to show the register that earns full rubric credit. It is study material: learn the moves, then write your own.
The scenario's three gifts map to Form 709 Schedule A: the $50,000 stock gift to a daughter, the $30,000 cash gift to a son and the $100,000 gift to a trust for grandchildren, which is a future interest and so does not qualify for the annual exclusion.1 Because the donor's spouse consents to gift splitting, each spouse reports half, which changes the exclusion available on the first two gifts.2
- Maps facts to the schedule.
- Identifies a future interest.
- Applies gift splitting.
Mistakes that cost points on ACCT 614 Week 3
- Applying the annual exclusion to a future interest.
- Missing schedules.
- Unverified totals.
Checklist before you submit
- Length: A completed return
- Sources: The scenario, the forms and their instructions
- Calculations checked and output saved
- Every table and figure referred to in the text
- Each rubric row read against the section that answers it
Questions students ask
What forms are used in ACCT 614 tax returns?
Each of the 3 major estate and trust forms, with the forms and instructions provided in the course.
How many points is ACCT 614 Week 3 Tax Return 1 worth?
100 points in Liberty's published course guide for ACCT 614, out of a course total of 1,010 points (about 10% of the grade). The rubric attached to the assignment in Canvas shows how those points are divided.
Is ACCT 614 Week 3 the same in every section of ACCT 614?
This guide follows Liberty's published course guide for ACCT 614. Liberty notes that course content can change from term to term, so if your Canvas section shows different instructions, a different week or different points, follow Canvas and your instructor.
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