Happy Tax Season! I just received my last document for 2018 filing, and am gearing up to find out what the new tax code will bring us. I’m sharing my master checklist for tax preparation with you. Every year, I review this list, to ensure that I have everything I need. If there are items you think I should add to this list, please note it in the comments section.
You can download the Master Tax Prep List here.
Personal Information
- Your social security number, date of birth
- If married, your spouse’s name, social security number, date of birth
- Address, telephone number, email address
- Children, and other dependents’ dates of birth and social security numbers
- Childcare records (including the provider’s tax ID number) if applicable
- 1095-A Health Insurance Statement of proof of health insurance for everyone on the tax return or exemption information
- Any changes to marital status or family additions or eliminations
Education Payments
- Form 1098-T from educational institutions
- Receipts that itemize qualified educational expenses
- Records of any scholarship or fellowships your received
- Form 1098-E if you paid student loan interest
Employee Information
- Form W-2
Self-Employment Information
- Forms 1099-MISC, Schedules K-1, income records not reported on 1099s
- Records of all expenses – list by category
- Business-use asset information (cost, date placed in service, etc.) for depreciation
- Office in home information, if applicable
Business Use of Vehicle Information
- Total miles driven for the year (or beginning/ending odometer readings), total business miles driven for the year (other than commuting)
- Amount of parking and tolls paid
- If you want to claim actual expenses, receipts or totals for gas, oil, car washes, licenses, personal property tax, lease or interest expense, etc.
Rental Property Income
- Records of income and expenses
- Rental asset information (cost, date placed in service, etc.) for depreciation
Retirement Income
- Pension/IRA/annuity income (1099-R)
- Social security/RRB income (1099-SSA, RRB-1099)
Savings and Investments
- Interest, dividend income (1099-INT, 1099-OID, 1099-DIV)
- Income from sales of stock or other property (1099-B, 1099-S)
- Dates of acquisition and records of your cost or other basis in property you sold (if basis is not reported on 1099-B)
Other Income
- Unemployment, state tax refund (1099-G)
- Gambling income (W-2G or records showing income as well as expense records)
- Amount of any alimony received, child support or other similar income
- Health Saving Account and long-term care reimbursements (1099-SE or 1099-LTC)
- Jury duty records
- Hobby income and expenses
- Prizes and awards
- Other 1099
Other Deductions and Credits
- Form 5498-SA showing HAS contributions
- Record of moving expenses not reimbursed by employer
- Form 1098 or other mortgage interest statements
- Amount of state/local income tax paid (other than wage withholdings), or amount of state and local sales tax paid
- Real estate and personal property tax records
- Cash amount donated to houses of worship schools other charitable organization
- Records of non-cash charitable donations
- Amounts paid for healthcare insurance and to doctors, dentists, hospitals
- Amounts of miles driven to charitable or medical purposes
- Expenses related to your investments
- Amount paid for preparation of last year’s tax return
- Employment-related expenses (dues, publications, tools, uniform cost and cleaning, travel)
- Job-hunting expenses
- Receipts for energy-saving home improvements
- Record of estimated tax payments made
IRA Information
- Form 5498 showing IRA contributions
- Traditional IRA basis
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