Free tax preparation assistance will be av ailable February 5 &ndash\; April 15\, 2024 for low-to-moderate income Mon tgomery County taxpayers. Trained volunteers through the AARP Foundation T ax-Aide Program will provide services at the Damascus Library. Services ar e by appointment only\; scheduling for tax appointments will open on Janua ry 29 and can be made online at www.ta xaidemc.info or by calling 240-777-2577 (phone lines open Monday &ndas h\; Friday from 9am-4pm).
\nWhat to Bring to Your Appointmen t
\nGeneral
&bull\; Federal and State
return(s) for 2021 and 2022. TaxAide can prepare and amend returns for 20
23\, 2022 \;&\; 2020
&bull\; Social Security cards for yoursel
f and every individual \;on your return
&bull\; Photo I.D. requir
ed for all taxpayers.
&bull\; Void check or documentation of bank rou
ting \;number and account number if you want to direct \;deposit a
ny refund(s) into your bank account.
&bull\; All letters or other doc
umentation received from IRS \;concerning your 2022 tax return\, issua
nce of an IRS \;Identity Protection PIN\, or any other correspondence.
Income
&bull\; W-2 from each employer
&bull\; Unemployment compensation statements
&bull\; SSA-1099 F
orm showing the total Social Security \;benefits paid to you for the y
ear\, or Form RRB-1099\, \;Tier 1 Railroad Retirement benefits
&b
ull\; 1099 Forms reporting interest (1099-INT)\, dividends \;(1099-DIV
)\, proceeds from sales (1099-B)\, as well as \;documentation showing
the original purchase price \;of your sold assets
&bull\; 1099-R
Form if you received a pension\, annuity\, or \;IRA distribution
&bull\; 1099-MISC Forms\, 1099-K Forms
&bull\; Information about othe
r forms of income
&bull\; State or local income tax refunds \;Pay
ments
&bull\; All forms and canceled checks indicating federal and&nb
sp\;state income tax paid (including quarterly estimated \;tax payment
s)
Deductions
Most taxpayers have a ch
oice of taking either a \;standard deduction or itemizing their deduct
ions. \;If you have a substantial amount of deductions\, \;you may
want to itemize. You will need to bring the \;following information:<
br />&bull\; 1098 Form showing any home mortgage interest
&bull\; A l
ist of medical/dental expenses (including doctor \;and hospital bills
and medical insurance premiums)\, \;a list of prescription medicines\,
costs of assisted \;living services\, and bills for home improvements
\;such as ramps and railings for people with disabilities
&bull\
; Summary of contributions to charity
&bull\; Receipts or canceled ch
ecks for all quarterly or \;other paid tax
&bull\; Property Tax b
ills and proof of payment
&bull\; Please note: If you itemized last y
ear\, bring all the \;information on the deductions listed above this
year. \;Although the standard deduction has increased \;under the
new tax law\, it may be advantageous to \;itemize to minimize both fed
eral and Maryland taxes.
Health Insurance&bull\; 1095A Forms if you purchased insurance through the \;Marke
tplace (Exchange)
Credits
&bull\; Depe
ndent care provider information (name\, \;employer ID\, or Social Secu
rity number)
&bull\; 1098-T and 1098-E Forms (Tuition and Student&nbs
p\;Loan Interest)
&bull\; Along with 1098-T\, bring Student account s
tatement \;for the year&mdash\;downloaded from the Bursar&rsquo\;s Off
ice