Filing Federal 1040 Income Tax Personal Finance Activity
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Financial literacy is so fun to teach, and it's so important for high school students to learn how to manage their personal finances. Learning consumer math empowers students as they navigate bills, budgets, taxes and interest rates, especially as they inch closer towards graduation.This bundle inclPrice $34.00Original Price $73.00Save $39.00
Description
This personal finance activity teaches students how to file a federal income tax return that includes a Form 1040 and a Schedule 1. Students are given a W-2 for fictional person "William A. Pay" who paid some student loan interest last year. He had also been unemployed for part of the year, taking his unemployment compensation untaxed. Will this lead to him owing taxes to the IRS?
**updated for April 2024 tax season** This activity will be updated every year. You will be able to redownload the updated version free of charge every year to get the update.
Included in this activity: 20 task cards, W-2, student answer sheet, answer key, completed 1040, completed Schedule 1, and links to a blank 1040, Schedule 1 and to the Tax Table.
The student answer sheet and task cards guide students through the 1040 and Schedule 1 so that students will come away from this activity confident about filing a federal income tax return. The final product of this activity is a completed federal tax form 1040 and an answer sheet.
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