Comments on Chapter 3 Homework and WORKSHEETS

Assignment: Problem #5, pp. 124-125.
Due: Beginning of class, Wed. 2/1.

1. Follow closely the textbook example that we went over in class to help you complete the 1040-EZ schedule in part (a).
   
   
2. On part (b), you will be using Form 1040A. Unfortunately, it is not available on the XTRA! site, so I located it and linked in on my webpage (click here: http://www.johnzietlow.com/PERSFIN/f1040a--2003.pdf , or if that doesn’t work, use the instructions below to access the form)
   
   * Go to http://johnzietlow.com
• Click on Personal Finance
• Scroll down until you see the link for the 2003 Form 1040A. Right-click it and save it to your computer, then print it out and fill it in. You will turn this in along with the 1040-EZ you complete the part (a).
  
  
3. Also for part (b): http://www.unclefed.com/IRS-Forms/2003/i1040a.pdf gives instructions on how to fill out the 1040-A, since the textbook does not go into any detail on this. See page 24 of that document (don’t print it all out) for how to handle the “ordinary dividends” that are included in this problem. See page 28 on the IRA item. Starting on Page 58 are the tax tables, which give you a way to calculate taxes owed when not using a tax rate schedule.
   
   
4. Please remember to put your name on the top of your forms and staple them together before turning them in.