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Agreed. Buying/selling stocks adds complexity to a tax return, and is likely to be beyond the scope of expertise that a "volunteer" tax preparer would have.
I volunteer for the AARP TaxAide program. We are certified to handle Sched D capital gains & losses. If your brokerage statement is so complex that the counselors feel it will take longer than one hour (our standard appointment length) to finish, they may decline to do your return.
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Originally Posted by galaxyhi
We've used the AARP tax service, and the United way tax free service s.
The last two years, however, due to covid, they've shut that down.
Many (most) sites were shut down abruptly in 2020 when COVID hit. Some reopened in 2021 and some didn't (we didn't reopen at my site because of local COVID regulations). Many more sites are reopening this year, but may be at reduced capacity. We lost a lot of volunteers who were unwilling or unable (due to their own health concerns) to engage in public contact.
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The posters are right...they are really only prepared to do simple tax returns.
We can do most brokerage statements, sole-proprietor, cash only small businesses, CODs and primary residence sales. We don't do solar energy credits, farm income, or small businesses that carry an inventory or operate at a loss. When you call for an appointment the scheduler will tell you if your tax situation qualifies.
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Originally Posted by Maple47
What are the Pro and Contra for both ways, please?
The advantages to doing your taxes yourself are that it is more private and secure (you don't need to turn your financial records over to a third party) and that you become more familiar with how tax law applies to your situation. The disadvantages are that you might miss something or enter it wrong, and that you will have to pay to efile your state tax (if any) or mail in a paper return. TaxAide will efile both returns at no charge.
You're question is directed to MY post. I'll answer with my opinion. Please understand that I'm not intending to be rude or snarky.
Given that your asking this question instead of looking up the relevant information yourself, you should use neither deluxe or premier. You should be using CPA or enrolled agent.
After they have prepared your taxes, ask them to sit down with you and go thru the return page by page. Take notes and try to understand the source documents for his/her entries into their tax prep software. That should put you in a position to use TurboTax next year.
(In fairness, I think you should be prepared to pay some money for his/her extra time for this education. I'd also suggest asking for that time AFTER tax season is over.)
It's great... Unfortunately, it hasn't been available at our local senior center since the beginning of COVID. In fact, the senior center hasn't been opened since then.
I don't see why they can't still offer it -- touch transmission is no longer considered a thing -- but whatever!
My choices are to pay someone or do them wrong myself...
Stock sales should not be difficult to input, especially if the 1099 has the cost basis. OP do you know your cost basis on all the sales? If so, I think a volunteer program would be fine for you, as long as you do not have too many sales. Check with the local office.
AARP has been doing my taxes for the past 12 years. I buy and sell stocks numerous times per month/year, and I have never had an issue. They do a phenomenal job!
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