Have your students use TurboTax Curriculum Orientation and follow the checklist and step by step directions to login and create their fictional account. This Orientation is a step by step guide to help assist you through the whole activity.
Have your students or pre-select a W2 from TurboTax Student W2s to complete and practice filing taxes.
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Filing taxes is a complex process. TurboTax is a tool that helps manage that process. Users input both personal and financial information. TurboTax uses the data to fill out the tax forms.
List 3-4 pieces of information directly from your W2 that you have to input into TurboTax.
Of the many personal questions prompted by TurboTax while filing taxes, list two that stuck out to you as memorable or significant.
Describe the process of filing taxes. Was it easy or difficult? If you were doing this for your own personal taxes instead of for a simulated scenario, would it be simpler or just as complicated?
Budgeting for Income and Expenses Simulation has been created as a real-world technology simulation to accompany FFFL 9-12, 3rd Edition lesson 7 titled Uncle Sam Takes a Bite. If you have not taught this lesson plan, we recommend students are proficient in the net worth concepts.
“In this personal finance activity, students will use the IRS Free File program provided by Intuit’s TurboTax to learn and practice filing taxes”.