Tax Preparation Checklist

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Complete this checklist to assist the tax preparation. Not all items pertain to all taxpayers.

PERSONAL DATA

  • Social Security Numbers and dates of birth for you and all of your dependents
  • Child care provider: Name, address and taxpayer identification number of day care provider and amount paid in the calendar year
  • Alimony paid: Social Security Number of recipient

EMPLOYMENT AND INCOME DATA

  • W-2 forms (last pay stubs help with some deductions)
  • Unemployment compensation: Forms 1009-G (available online for download)
  • Miscellaneous income including royalties: Forms 1099-MISC
  • Partnerships, S Corporation, and trust income: Schedules K-1 necessary
  • Pensions and annuities: Forms 1099-R
  • Social Security benefits statement Form SSA 1099
  • Alimony received
  • Jury duty pay
  • Gambling and lottery winnings W-2G
  • State and local income tax refunds: Form 1099-G (available online only)
  • Cancellation of Debt Income: Form 1099-C

FINANCIAL ASSETS

  • Interest income statements from all banks and brokerage houses: Form 1099-INT
  • Dividend income statements from brokerage houses: Form 1099-DIV (All pages)
  • Proceeds from broker transactions: Form 1099-B (along with original cost basis and holding period of any stocks or bonds sold)
  • Property Tax Rebate Amounts
  • 529 Contributions

HOMEOWNER/RENTER DATA

  • Mortgage Interest Paid: Form 1098 for First Mortgage, Home Equity Lines of Credit and Second Mortgages as well as interest for second homes, time shares, etc.
  • Real estate taxes paid during calendar year
  • Rent paid during tax year (Deductible for certain states)
  • Points paid on a new purchase or refinancing (Include HUD-1 form from Closing)
  • Moving expenses if moved more than 50 miles

FINANCIAL LIABILITIES

  • Auto loans and leases if vehicle is used for business
  • Student loan interest paid (usually available online)
  • Early withdrawal penalties on CDs and other time deposits from 1099 INT
  • Cancellation of Debt income from credit cards or auto loans/leases – Form 1099 C

EXPENSES

  • Gifts to charity and all not for profit agencies including, checks, cash, clothing, cars, household items, mileage, etc.
  • Unreimbursed expenses related to volunteer work
  • Unreimbursed business expenses (travel expenses, entertainment, professional memberships, cellular telephone bills, subscriptions, etc.)
  • Investment expenses including fees for IRA and brokerage accounts and managed accounts
  • Job-hunting expenses including resumes, newspapers, mailings
  • Job-related education expenses
  • College tuition expenses for yourself or dependents
  • Adoption expenses
  • Tax return preparation expenses and fees
  • Legal Fees for Wills, Divorces (where tax deductions are concerned), estate planning, etc.

SELF-EMPLOYMENT DATA

  • Business income: Forms 1099-MISC and your own records of income received
  • Business-related expenses: List of Expenses, receipts and other documents from your own records including automobile, home office supplies, telephone expenses, internet expenses, etc.
  • Employment taxes and other business taxes paid for current year
  • Self employed insurance premiums, etc.

MISCELLANEOUS TAX DOCUMENTS

  • Federal, state and local estimated income tax paid for current year including payments made in January for the prior year
  • Purchase of a new car may allow an additional sales tax deduction if itemizing
  • Estimated tax vouchers, cancelled checks and other payment receipts
  • IRA, SEP and other retirement plan contributions which shows the type of plan
  • Records to document medical expenses (Deductible limited to amount of 10% of AGI except if for those grandfathered in prior to 2013)
  • Records to document casualty or theft losses (deductible limited to amount of 10% of AGI)
  • Records for any other expenditures that may be deductible
  • Records for any other revenue or sale of property that may be taxable or reportable
  • Foreign taxes withheld on foreign source income

COLLEGE CREDITS FOR YOU AND YOUR DEPENDENTS

  • Please have all 1099 T’s available for proper tuition deductions and payment information. The Student does not always get them mailed to them but can download them from the school portal.

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