Tax Situation Catalog

You work for an employer and receive a W-2 form with wages and tax withholding.

You held more than one job during the year and received multiple W-2s.

You earned interest from bank accounts, CDs, or bonds (Form 1099-INT).

You received dividends from stocks or mutual funds (Form 1099-DIV).

You sold stocks, crypto, or other assets at a gain or loss.

You earned income from freelancing, gig work, or a sole proprietorship (1099-NEC/MISC).

You earned income from renting out property.

You took distributions from an IRA, 401(k), or pension.

You received Social Security retirement or disability benefits.

You received unemployment compensation during the year.

Take the standard deduction – the simplest option for most filers.

Deduct specific expenses like mortgage interest, state taxes, and charity if they exceed the standard deduction.

Deduct interest paid on your home mortgage (Form 1098).

Deduct cash or property donated to qualified charities.

Deduct up to $2,500 in student loan interest paid.

Deduct contributions to a Health Savings Account.

Deduct traditional IRA contributions (income limits apply).

Teachers can deduct up to $300 for classroom supplies.

Up to $2,000 per qualifying child under 17.

A refundable credit for low-to-moderate income workers.

American Opportunity or Lifetime Learning Credit for tuition.

Credit for child care or dependent care expenses while you work.

Credits for energy-efficient home improvements or electric vehicles.

Credit for taxes paid to foreign governments on foreign income.

Unmarried with a qualifying dependent – lower tax rates and higher deduction.

Married couples filing one return together – usually the best option.

Unmarried with no dependents – the simplest filing status.

Additional standard deduction amount for seniors.

Deduct up to 20% of qualified business income from pass-through entities.

You made quarterly estimated tax payments during the year.

Social Security and Medicare tax on self-employment earnings.