AARP Tax Aide

• Wages, interest, dividends, capital gains/losses, unemployment compensation, pensions and other retirement income, Social Security benefits, among other types of income.

• Self-employment income, with limits.

• Most income reported on Form 1099-NEC, Form 1099-K, or Form 1099-MISC.

• Schedule K-1 that includes only interest, dividends, capital gains/losses or royalties.

• IRA contributions — deductible or not.

• Certain adjustments to gross income and itemized deductions, including non-cash contributions to charity that total no more than $5,000.

• Qualified business income deduction, with limits.

• Cancellation of non-business credit card debt.

• Most credits, such as earned income credit, education, child/ dependent care, simplified method foreign tax credit, among others.

• Repayment of first-time homebuyer credit.

• Estimated tax payments.

• Injured spouse allocation, depending on state.

• Amendments to filed returns.

• Tax returns for certain prior years.

WE CANNOT PREPARE RETURNS WITH:

• Self-employment if there are employees, losses, expenses that exceed $35,000, depreciation, business use of home, 1099 filing requirements or other complicating factors.

• Hobby income or other activities not for profit.

• Complicated capital gains/losses, such as futures or options.

• Schedule K-1 with other than permitted items.

• Rental income, except land-only rentals or rentals of personal residence less than 15 days.

• Royalty income with expenses if not from self-employment.

• Tax on a child’s investment and other unearned income (kiddie tax).

• Farm income or expenses.

• Some income, deduction, or credit items that are not included in our training.

• Alternative minimum tax, additional Medicare tax, or net investment income tax.

• Foreign financial asset reporting requirements.

• Any return where the answer to the digital asset (virtual currency) question on Form 1040 is "yes."