Tax Preparation Checklist

Personal Information

• Social Security Numbers (SSNs):

• Yours, your spouse's, and your dependents' SSNs.

• Driver’s License or State ID:

• Provide copies for both you and your spouse if filing jointly.

Income Information

• W-2 Forms:

• From all employers for you and your spouse.

• 1099 Forms:

• 1099-MISC for freelance or contract work.

• 1099-NEC for nonemployee compensation.

• 1099-INT for interest income.

• 1099-DIV for dividends.

• 1099-G for unemployment income.

• 1099-R for retirement income.

• 1099-B for brokerage transactions.

• Other Income Documentation:

• Rental property income.

• Alimony received.

• Social Security benefits (SSA-1099).

• Income from sales of property.

Expense Information

• Self-Employment Expenses:

• Records of business expenses.

• Mileage logbook for business travel.

• Home office expenses.

• Rental Property Expenses:

• Mortgage interest.

• Property management fees.

• Repairs and maintenance costs.

• Medical and Dental Expenses:

• Health insurance premiums.

• Medical bills and prescriptions.

• Long-term care insurance.

• Educational Expenses:

• Tuition and fees (Form 1098-T).

• Student loan interest (Form 1098-E).

• Charitable Contributions:

• Receipts for donations.

• Value of donated goods.

• Mortgage and Real Estate:

• Mortgage interest (Form 1098).

• Property tax payments.

• Childcare Expenses:

• Provider's name, address, and tax ID.

• Amounts paid for childcare.

Investment and Savings Information

• Retirement Contributions:

• IRA contributions.

• 401(k) contributions.

• Investment Expenses:

• Records of stocks, bonds, and mutual funds transactions.

• Statements of any dividend reinvestments.

Tax Credits and Deductions

• Child Tax Credit:

• Information on dependent children.

• Earned Income Tax Credit (EITC):

• Income details and dependent information.

• Education Credits:

• Form 1098-T and details of qualified expenses.

• Energy-Efficient Home Improvements:

• Receipts and manufacturer’s certification statements.

Miscellaneous Information

• Prior Year Tax Return:

• Copy of last year’s tax return.

• Bank Account Information:

• Routing and account numbers for direct deposit.

• Estimated Tax Payments:

• Records of quarterly estimated tax payments made.

How to Use This Checklist

Gather Documentation:

• Use this checklist to collect all necessary documents and information. Organize Your Records:

• Group your documents according to the categories above for easy reference. Consult Your Tax Professional:

• Bring this checklist and your organized documents to your tax professional to ensure a smooth and efficient tax preparation process.

Need More Help?

Check out our Resources Page for additional guides, tools, and information to help you manage your finances effectively.

If you have any questions or need further assistance, feel free to reach out to us.

Best regards,

Shintega

Tayve Financial & Business Solutions