Great question! I was in your exact situation two years ago - no degree, tight budget, but determined to break into tax prep. Here's what worked for me: 1. Start with the IRS PTIN registration (about $50/year) - you'll need this regardless of which path you choose. 2. I highly recommend starting with VITA training as someone else mentioned. It's completely free and gives you hands-on experience. I volunteered at a local community center and prepared about 50 returns my first season. The experience was invaluable. 3. While doing VITA, I simultaneously took an online tax course through Penn Foster (around $800) which was self-paced and covered everything from basic individual returns to small business taxes. Way more affordable than traditional college. 4. After my first tax season, I applied for the AFSP and started working part-time at a local CPA office during off-season doing bookkeeping and basic prep work. 5. Now I'm studying for the EA exam using Gleim materials (expensive but thorough) and should have my credential by next year. The key is gaining practical experience while building your knowledge. Don't feel pressured to get everything at once - build gradually and let each step fund the next one. Most clients care more about your competence and communication skills than your educational background. Feel free to ask if you want specifics about any of these steps!

One path that hasn't been mentioned yet is pursuing the IRS Special Enrollment Examination (SEE) directly without going through other programs first. I know it sounds intimidating, but hear me out - I did this route successfully without a college degree about 3 years ago. The SEE has three parts covering individual taxation, business taxation, and representation/ethics. You can take them in any order and don't need to complete them within a specific timeframe. The beauty is that once you pass, you become an Enrolled Agent which is the highest credential the IRS offers to tax professionals. I used Passkey EA Review materials (about $600 for all three parts) and studied for about 4-6 months per section while working my regular job. The investment was totally worth it because EA status opened doors that other credentials couldn't. I can represent clients before the IRS at all levels, which commands higher fees and more respect in the industry. What really helped me was joining the National Association of Enrolled Agents (NAEA) even while studying. They have great resources, networking opportunities, and continuing education that keeps you current on tax law changes. The annual membership fee pays for itself through the knowledge and connections you gain. If you're serious about making this a long-term career and not just seasonal work, I'd strongly consider jumping straight to EA preparation. It's more challenging upfront but positions you better professionally than starting with basic certifications and working your way up.

Something nobody's talking about - did you sell the house within a year of inheriting it? If not, make sure you're looking at the long-term capital gains rate for the house sale, which is usually more favorable. And don't forget to adjust your basis for any improvements you made before selling!

Just to add another perspective - if you're worried about documentation for the furniture sales, consider creating a simple spreadsheet now while the details are still fresh in your memory. List each item (or group of similar items), approximate date sold, sale price, and your best estimate of fair market value at inheritance. For regular household furniture that's been used, the fair market value is typically much lower than original purchase price. Think about what someone would reasonably pay for used furniture at a garage sale or on Facebook Marketplace - that's probably close to the stepped-up basis value you inherited. Since you mentioned getting around $3,800 total and it was all regular household items, you almost certainly sold everything at or below the stepped-up basis values, meaning no taxable gains to report. But having that documentation organized will give you peace of mind and be helpful if you ever need to reference it later.

Adding to all the great advice here - I just went through this exact process last month for our 3-member marketing LLC. One thing that really helped was creating a simple checklist before mailing: ✓ Form 1065 signed in blue ink and dated ✓ All Schedule K-1s included (one for each partner) ✓ Copy of each K-1 given to respective partners ✓ All schedules and supporting documents attached ✓ Correct mailing address verified (Ogden, UT for most states) ✓ Certified mail with return receipt ✓ Cover letter listing enclosed documents ✓ Copies of everything kept for records The blue ink tip mentioned earlier is spot-on - I almost signed in black before seeing that advice. Also, don't forget that the filing deadline for partnerships is March 15th (not April 15th like individual returns), so factor that in for next year's planning. The whole process took about 6 weeks from mailing to seeing the return show up in our IRS online account transcript, which was actually faster than I expected for paper filing. Hang in there - it's definitely doable without e-filing!

You can set up an IRS online account either before or after filing - it doesn't matter timing-wise. For business accounts, you'll need your EIN and some basic business information to verify your identity during the setup process. In my experience, it took about 8 weeks from when we mailed our paper 1065 before the return information showed up in the online transcript. The transcript will show basic filing information like the return type, tax period, and processing date, but it won't display all the detailed line items from your actual return. One heads up - the business online account system can be a bit finicky compared to individual accounts. Sometimes it takes multiple attempts to get through the identity verification process, especially if your LLC is relatively new. But once it's set up, it's really helpful for tracking the status of your filings and any IRS correspondence. Also worth noting that even after your return shows as processed in the transcript, it can take several more weeks before any refunds (if applicable) are actually issued for paper-filed partnership returns. The whole paper process definitely requires more patience than e-filing!

Anyone else have this weird situation where the addition to basis from WHFIT is actually HIGHER than the dividends you received? My Schwab S&P fund paid like $340 in dividends but then had a $412 addition to basis. Seems odd.

I had this exact same thing happen with my Vanguard index fund this year! The "Addition to basis from WHFIT reporting" caught me completely off guard too. After doing some research, I found out that WHFIT (Widely Held Fixed Investment Trust) is just a tax classification that many mutual funds and ETFs fall under. What's happening is that your fund had certain expenses or undistributed income that gets added to your cost basis instead of being paid out as a taxable distribution. This is actually beneficial because it increases your basis without creating a current tax liability. When you eventually sell your shares, you'll calculate your capital gain using this higher adjusted basis, which means less taxable gain. You definitely don't need to amend previous returns - this adjustment only affects your basis going forward. Just make sure to keep good records of these basis adjustments for when you file in future years. Most tax software like TurboTax should handle this correctly when you input the information from your 1099-COMPOSITE form.

Just want to add one more perspective here - since you're only working for 2 weeks, you might also want to consider the timing of when you'll receive your paychecks. If you're getting paid weekly, you might only get 2-3 paychecks total depending on when you start and when the pay periods fall. With such a short work period, claiming exempt makes even more sense because you won't have to wait until next tax season to get back what would probably be a very small amount of withholding anyway. Plus, if you need the money for school expenses or other immediate needs, having your full gross pay (minus FICA) in your paychecks will be more helpful than getting a tiny refund months later. Also, don't forget to keep track of your earnings for when you do file - even though you likely won't owe any tax, you'll still need to report the income accurately. Your employer should provide you with a W-2 by the end of January 2026.

Great advice from everyone here! Just to add one practical tip - when you fill out your W-4 and write "Exempt" on line 7, make sure you also complete the rest of the form properly (your name, SSN, address, etc.) and sign it. Some new employees think writing "Exempt" means they can skip the other sections, but your employer needs all that info for their records. Also, since you mentioned this is your first job in a while, remember that your employer might ask for other documents too like an I-9 for employment eligibility verification. The W-4 is just for tax withholding purposes. With only $1,900 in income and being claimed as a dependent, claiming exempt is definitely the right move here - you'll get your full pay (minus FICA) and avoid having to file just to get back a small withholding amount. The standard deduction will more than cover your income anyway.