RESOURCES

IMPORTANT TAX DOCUMENT ENCLOSED!

It's that time of year again, and we know the feeling... It seems like every other email and letter in the mail has to do with taxes. What is important? What isn't? What else does my preparer need to file for me? 

Getting the right info to your preparer ensures the most accurate filing which means you're less likely to run into issues and you are more likely to get what is owed to you. We assembled this checklist for you to use as a reference when preparing to file. You can also download a copy below. 

Keep in mind, this is list is long, but it is meant to be thorough. It is very possible that much of this list will not apply to you. 

Tax Documents ChecklisT

PERSONAL & DEPENDENT INFO

  • Social Security Number/Tax ID and Photo ID for primary taxpayer and spouse.

  • Dependent's Dates of Birth and Social Security Number(s)/Tax ID(s).

  • Childcare payments for the tax year and the childcare providers Social Security Number/Tax ID.

  • 8332 : official form reporting consent from the custodial guardian to release claim of a dependent

  • Up-to-date contact information (address, phone number, email).

SOURCES OF INCOME

Employed or Unemployed

  • W-2s : official form(s) received from employer(s) reporting proof of income earned from employer during tax year.

  • 1099-G : official form reporting unemployment compensation during tax year.

Self Employed

  • 1099-NEC : official form received from contractor to report contracted income earned.

  • Totaled income received through self employment.

  • Totals of expenses by category (ex: materials, office supplies, advertising, maintenance/repairs, etc.)

  • High-cost assets purchased and used through the tax year including price, and date of purchase (ex: vehicles, large equipment, buildings, etc.).

  • Mileage driven for business purposes during tax year.

  • For-business use of the home (square-footage of home and the amount used for office, home utilities, insurance, and repairs/maintenance for tax year)

Rental Income

  • Income from rental property(s).

  • Rental property information 

- Address

- Date placed in service

- Cost of purchase

- Property taxes, insurance, utilities, maintenance, and misc. expenses

- If sold, date of sale and the sale documents including amount received and costs to sell the property.

Retirement Income

  • 1099-R : official form reporting all sources of pension, IRA, and annuity income.

  • Deductible IRA contributions (personal contributions to a traditional IRA).

  • 1099-SSA : official form reporting Social Security.

  • RRB-1099 : official form reporting railroad retirement income received.

Savings and Investments or Dividends

  • 1099-INT, 1099-OID, 1099-DIV : official forms reporting interest and dividend income statements.

  • 1099-B : official form reporting income from sales of stock.

  • 1099-S : official form reporting income from sales of real estate property.

  • 1099-SA : official form reporting Health Savings Account.

  • 1099-LTC : official form reporting long-term care cost reimbursement.

Miscellaneous Income Sources

  • W2-G : official form for any gambling income received.

  • Total of hobby income received (ex: craft sales that you received money for without a craft business).

  • Prizes and awards.

  • K-1 : official form reporting activity from partnerships, S-Corps, trusts, and estates.

  • 1099 MISC : Official form reporting any miscellaneous income (ex: prizes, awards, royalties, taxable proceeds, jury duty pay, honorariums, etc.).

POSSIBLE DEDUCTIONS AND/OR CREDITS

​Home Ownership

  • 1098 : official form reporting mortgage interest statements.

  • Real estate and personal property tax records.

Home Rental

  • Property address and landlord’s name and address.

  • Total amount of rent paid and number of months lived there during tax year.

Charitable Donations

  • Cash amounts donated to church, schools, and other qualified charitable organizations.

  • Records of non-cash donations (ex: thrift store donations and their total value).

Medical Expenses and Heath Insurance Information

  • Amounts paid out of pocket for healthcare expenses (ex: prescriptions, doctors, dentists, hospitals, insurance premiums, eyeglasses, etc.).

  • 1095-A : official form reporting enrollment in a health insurance plan through the Federal Government Marketplace.

Educational Expenses for Either Taxpayer or Dependent

  • 1098-T : official form received from educational institution reporting amount of tuition paid.

  • Detailed statement of costs for books, fees, and necessary equipment not paid to the educational institution.

  • 1098-E : official form reporting student loan interest payments.

State & Local Taxes or Sales Tax

  • Amount of state/local income tax paid.

  • 1099-G : official form received from state reporting amount of refunds received.

  • Sales tax paid for high-cost purchases (ex: vehicles, boats, etc.).

  • Excise and wheel tax (car registration).

Retirement and Other Savings Accounts

  • 529 Plan (*state exclusive) showing account number and amount contributed during tax year.

  • 5498-SA : official form reporting annual contributions to tax free accounts (ex: HSA, MSA).

  • 5498 : official form reporting fair market value and contributions IRAs.

Federally Declared Disaster

  • City/county lived in worked in, or had property in.

  • Records to support property losses (ex: appraisal, clean up costs, etc.).

  • Rebuilding and/or repair costs.

  • Insurance reimbursements or claims that will be paid regarding disaster.

  • FEMA assistance information.

Other

  • Estimated payments during the tax year.

  • Any other tax related document that you receive.

Requirements may vary by state or local law. If you are unsure of the relevance of a document or information we suggest you include it when filing. It is better to err on the side of caution.