Corrections for Module II
"Becoming the 1040 Expert"
2024 Edition
Dear Students,
Welcome to the Errata and Corrections page for our school's textbook, titled "Becoming the 1040 Expert." We strive for excellence in education, and it is essential to ensure that our learning materials are accurate and up-to-date. While we take great care in publishing our printed textbooks, occasional errors may slip through the editing process.
The purpose of this page is to address and rectify any discrepancies or mistakes that have been identified in the printed version of the textbook. However, we want to assure you that the online version of the book has been diligently updated to reflect the necessary corrections.
Listed below are the specific page numbers and details of the identified errors, along with their corresponding corrections. We encourage all students and teachers to consult this page while referring to the printed textbook to ensure that you have the most accurate and reliable information at hand.
At our school, we believe in continuous improvement, and your feedback plays a vital role in helping us achieve this. If you come across any further errors or have suggestions for improvement, please do not hesitate to bring them to our attention. Together, we can create an even better learning experience for everyone.
Happy learning!
Ken Bostrom
Director of Education and Operations
Universal Accounting Center
Page 0.1
In the sixth paragraph, it mentions creating a new login for testing. This program has already created a login for you. You do not need to create any additional logins. At the end of each Chapter/Session, you will find a Chapter Quiz, and at the end of each module, a Module Practice Exam. The logins are pre-configured, and you will be seamlessly prompted to access the testing systems as you progress through the course.
Change this: "Once you have completed the course, we encourage you to log in to the UAC website and create a testing account to measure your mastery of the material."
Updated sentence:
"Once you have completed the course, we encourage you to measure your mastery of the material."
Page 4.4
Then, on the same line, look for the tax amount that corresponds
with your client’s filing status. For instance, if your client is filing single, the tax amount on $69,722 taxable income is $10,647.
Page 4.30
Learning Activity 1
Corrections Made:
Enter their QBI of $1,435 on Line 13.
Page 5.62
Schedule 8812
Line 13 should be 15,083
Page 5.65
Rounding Error Line 25a
Line 25a was rounded up instead of down. The answer should be 7,472.
This will change 25d 7,472
Line 33 to 7,472
And 34 and 35a to 6,149
Page 7.52
Schedule SE
Corrections Made:
Line 13 - 546
Page 9.35
Penalties for late filing and late payment
If the return is filed more than 60 days after the due date, including extensions, the penalty is the smaller of $450 or 100% of the unpaid tax.
Page 9.43
Rodney Savin DID NOT Itemize last year.
Remove the statement from Taxes Paid:
Taxpayer itemized previous year