Before preparing your income tax return, it’s important that you have everything that you need, and have any and all information ready available. Below is helpful checklist to get you ready for your income tax return preparation:
- If you’re planning to have your return electronically deposited, it’s important to know your bank account and routing number.
- Social security numbers of your spouse, dependents, and yourself.
- Education Payments: Forms 1098-T from educational institutions, receipts that itemize qualified educational expenses, and other documents related to student loans or tuition.
- Employee Information: W-2 forms and other income related documents. If you are self-employed you will need forms 1099-MISC, schedules K-1, and income records to verify amounts not reported on 1099s.
- Business Expenses: Logs showing total miles driven per year, parking tolls paid, and other expenses related to using a vehicle for business use.
- Rental Property Income: Records of income and expenses related to rental properties.
- Retirement Income: Pension, IRA, annuity income (1099-R), Social Security, RRB income (1099-SSA, RRB-1099).
- Savings and Investments: Interest, dividend income forms (1099-INT, 1099-OID, 1099-DIV). Income from sales of stock (1099-B, 1099-S).
- Other Income: Unemployment (1099-G), gambling income (W-2G), and other forms related to income or expenses.
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