Some tax matters that are considered “Out-of-Scope” and therefore we cannot prepare include, but are not limited to:

• Self-employment if there are employees, losses, expenses that exceed $50,000, 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.
• Complicated Schedule K-1.
• Rental income and moving expenses. (In scope when for active duty military personnel when site has volunteers certified to prepare military returns.
• 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.
• 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.
• Transactions with digital assets.