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AARP Tax-Aide Scope

AARP Tax-Aide Scope. Out of Scope In Scope Refer to Paid Tax Preparer. In Scope. 1040 with Schedules A, B, and D Sched C w/up to $10K expenses No employees No inventory No losses No depreciation No returns, allowances, cost of goods sold Schedule E (Royalty income)

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AARP Tax-Aide Scope

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  1. AARP Tax-Aide Scope • Out of Scope • In Scope • Refer to Paid Tax Preparer

  2. In Scope • 1040 with Schedules A, B, and D • Sched C w/up to $10K expenses • No employees • No inventory • No losses • No depreciation • No returns, allowances, cost of goods sold • Schedule E (Royalty income) • 1099 MISC w/box 7 nonemployee comp reported on Sched C/CEZ

  3. In Scope • 1099 Misc (box 1, 2 - rents, royalties, with no expenses or depreciation- reported on Sched E • 1099 Misc box 3 “Other Income” reported on 1040 Line 21 • 2441 Child & Dependent Care • 8283 Section A Part 1 non-cash contribution to charity > $500 < $5000

  4. In Scope • 8880 Qualified Savings Credit • 8812 Additional Child Tax Credit • 8863 Education Credits • 9465 Installment Agreement • 8379 Injured Spouse • 1040X Amended Return • Sched K-1 only for interest, dividends, capital gains distributions and royalties (Sched B, D, E)

  5. In Scope • Cancellation of Debt 1099-A and/or 1099-C and Form 982 if certified • Health Savings Accounts Form 1099-SA and Form 8889 if certifiedNote: 8606 – 4491 is unclear – will have to research

  6. Out of Scope • Schedule C with > $10,000 Expenses • Complicated/Lengthy Schedule D • (Capital Gains and Losses) • Schedule E (Rental Property) with expenses and/or depreciation

  7. Out of Scope • FORM: • 2106 (Employee Business Expense) • 3903 (Moving Expenses) • 8615 (Minor’s Investment Income) • Innocent Spouse • Schedule K-1’s that involve depreciation • Reporting Savings Bond interest if accrued yearly • Casualty Losses • AMT

  8. “Refer to Professional Tax Preparer” • See Word Document “SCOPE FROM 4491”

  9. REMEMBER • To prepare an accurate return, • AARP Tax Counselors can determine if a return is too complicated • or outside the scope of their training

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