Module 3: Interest Income, located on the IRS web site, is a brief tutorial that covers taxable and tax-exempt interest including the use of form 1099-INT. This 7 page slide tutorial explains how interest income is generated, why it is unearned rather than earned income, and where it must be reported for income tax purposes, even if some of it is tax-exempt interest income. The mirror site url provides links to additional tutorials on a variety of tax topics.
Type of Material:
In class or outside of class as homework. Good for supplemental review.
Netscape Navigator 7.0 or equivalent browser and Adobe Acrobate Reader 5.0
Identify Major Learning Goals:
To help tax payers understand how to report interest income on Form 1099-INT.
Target Student Population:
Designed for high school students. Also appropriate for college students and the general public.
Prerequisite Knowledge or Skills:
Minimal knowledge of taxes.
Evaluation and Observation
Content is presented in a clear and concise fashion. Content is current and provides accurate information. The module is self-contained and provides a complete explanation of the topic. The module has periodic self-check quizzes and concludes with a topic summary.
The last 2 sentences of the summary left a question, where would interest not reported on a 1099-INT appear?
Potential Effectiveness as a Teaching Tool
In a very short time (reading 7 slides), users should be able to grasp the concept of interest income and how to report it on Form 1099-Int. "Quick Check" quizzes have been included as formative assessment. Feedback is provided for all incorrect responses.
Ease of Use for Both Students and Faculty
The module is very easy to use. It is visually appealing with well designed screens that include graphics to add interest. For important terms, links to a glossary have been included. Interactivity is achieved though the "Quick Check" quizzes. Form 1099-INT is included as an illustration.
The module relies on reading content.
Other Issues and Comments:
The mirror site contains a great deal of useful information.