TAX PREPARATION CHECKLIST
(These are examples of some items that may apply to you and will help you prepare for the upcoming season. Other documentation may be needed depending upon your situation.)
Personal Data
• Form 1099-HC from health care provider. (Note, if you are on Medicare, Form 1099-HC is not applicable).
• Social Security numbers (including spouse & children).
• Child care provider Tax ID or social security numbers.
• Prior Year return (for first time clients).
• Copy of death certificate (for those filing a decedent’s return.)
Employment & Income Data
• W-2 forms
• Partnership and trust income (K-1 forms)
• Pensions, annuities, and social security 1099 forms.
• Alimony
• Gambling and lottery winnings.
• Health savings distributions (1099-SA).
• Debt forgiveness on mortgage and credit cards (1099-C)
Homeowner/Renter Data
• Mortgage interest: Form 1098.
• Sale of your home or other real estate: Form 1099-S and bring the settlement statement (HUD sheet) from your closing.
• Interest paid on a 2nd mortgage or Home Equity Loan: Form 1098
• Real Estate Taxes. (This should appear on form 1098, unless you are not using an escrow account)
• Rent paid for the year.
• Moving Expenses-if you moved more than 50 miles because of a job change.
• Homeowners Insurance, if you had rental income.
• For rental property, utility bills – water, heat, and electric, if not paid by the tenant, and/or if unit was vacant. (cont’d)
• Property tax for 2nd home
Financial Assets
• Interest income statements: Form 1099-INT
• Dividend income statements: Form 1099-DIV
• Proceeds from stock or mutual fund sales (Form 1099-B), showing what you sold, but should also include when bought and how much you paid.
• State tax refunds & Unemployment compensation: Form 1099-G.
• Retirement plan distribution: Form 1099-R.
Financial Liabilities
• Auto loans and leases (car value) if vehicle is used for business.
• Student loan interest paid. (Form 1098-E)
• Early withdrawal penalties on CDs and other time deposits.
Automobiles & other personal property
• Personal property tax information (Excise tax bills: cars, trucks, boats, motorcycles, and trailers).
Other Expenses
• Gifts to charity
• Unreimbursed work-related expenses (travel expenses, uniforms, union dues, subscriptions… if required, and not reimbursed).
• Unreimbursed expenses related to volunteer work.
• Investment expenses – this could be found on your broker statements.
• Job-hunting expenses.
• Education expenses: Form 1098-T, for yourself, spouse, or dependent
• Child care expenses – please include name, address, and tax ID number of the daycare provider.
• Adoption expenses
• Alimony paid
• Tax return preparation expenses and fees. (If I did your return last year I have this information.)
Self-employment Data
• 1099-MISC forms
• Receipts or documentation for business-related expenses.
• Copies of your business and personal bank account statements, if needed.
• For vehicles used for business: repairs, insurance, maintenance, and mileage log.
• IRA, Roth IRA, and other retirement contributions.
• Medical expenses including optometry, hearing aids, dentistry, orthodontia, prescriptions, crutches, etc.
• Casualty or theft losses.
(These are examples of some items that may apply to you and will help you prepare for the upcoming season. Other documentation may be needed depending upon your situation.)
Personal Data
• Form 1099-HC from health care provider. (Note, if you are on Medicare, Form 1099-HC is not applicable).
• Social Security numbers (including spouse & children).
• Child care provider Tax ID or social security numbers.
• Prior Year return (for first time clients).
• Copy of death certificate (for those filing a decedent’s return.)
Employment & Income Data
• W-2 forms
• Partnership and trust income (K-1 forms)
• Pensions, annuities, and social security 1099 forms.
• Alimony
• Gambling and lottery winnings.
• Health savings distributions (1099-SA).
• Debt forgiveness on mortgage and credit cards (1099-C)
Homeowner/Renter Data
• Mortgage interest: Form 1098.
• Sale of your home or other real estate: Form 1099-S and bring the settlement statement (HUD sheet) from your closing.
• Interest paid on a 2nd mortgage or Home Equity Loan: Form 1098
• Real Estate Taxes. (This should appear on form 1098, unless you are not using an escrow account)
• Rent paid for the year.
• Moving Expenses-if you moved more than 50 miles because of a job change.
• Homeowners Insurance, if you had rental income.
• For rental property, utility bills – water, heat, and electric, if not paid by the tenant, and/or if unit was vacant. (cont’d)
• Property tax for 2nd home
Financial Assets
• Interest income statements: Form 1099-INT
• Dividend income statements: Form 1099-DIV
• Proceeds from stock or mutual fund sales (Form 1099-B), showing what you sold, but should also include when bought and how much you paid.
• State tax refunds & Unemployment compensation: Form 1099-G.
• Retirement plan distribution: Form 1099-R.
Financial Liabilities
• Auto loans and leases (car value) if vehicle is used for business.
• Student loan interest paid. (Form 1098-E)
• Early withdrawal penalties on CDs and other time deposits.
Automobiles & other personal property
• Personal property tax information (Excise tax bills: cars, trucks, boats, motorcycles, and trailers).
Other Expenses
• Gifts to charity
• Unreimbursed work-related expenses (travel expenses, uniforms, union dues, subscriptions… if required, and not reimbursed).
• Unreimbursed expenses related to volunteer work.
• Investment expenses – this could be found on your broker statements.
• Job-hunting expenses.
• Education expenses: Form 1098-T, for yourself, spouse, or dependent
• Child care expenses – please include name, address, and tax ID number of the daycare provider.
• Adoption expenses
• Alimony paid
• Tax return preparation expenses and fees. (If I did your return last year I have this information.)
Self-employment Data
• 1099-MISC forms
• Receipts or documentation for business-related expenses.
• Copies of your business and personal bank account statements, if needed.
• For vehicles used for business: repairs, insurance, maintenance, and mileage log.
• IRA, Roth IRA, and other retirement contributions.
• Medical expenses including optometry, hearing aids, dentistry, orthodontia, prescriptions, crutches, etc.
• Casualty or theft losses.