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    Tax Prep Checklist

    Uploaded by

    Nabeel Samad
    The document provides a comprehensive tax prep checklist that includes personal information, sources of income, types of deductions, and documents needed for tax filing. The checklist covers items such as W-2, 1099, and 1098 forms; records of income, expenses, deductions for home ownership, charitable donations, medical costs, education, retirement, and more; and information related to federally declared disasters. Having the completed checklist and supporting documents makes the tax preparation process more organized and ensures all relevant information is available.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Tax Prep Checklist

    Uploaded by

    Nabeel Samad
    65 views3 pages
    The document provides a comprehensive tax prep checklist that includes personal information, sources of income, types of deductions, and documents needed for tax filing. The checklist covers items such as W-2, 1099, and 1098 forms; records of income, expenses, deductions for home ownership, charitable donations, medical costs, education, retirement, and more; and information related to federally declared disasters. Having the completed checklist and supporting documents makes the tax preparation process more organized and ensures all relevant information is available.

    Original Title

    TAX PREP CHECKLIST (1)

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    The document provides a comprehensive tax prep checklist that includes personal information, sources of income, types of deductions, and documents needed for tax filing. The checklist covers items such as W-2, 1099, and 1098 forms; records of income, expenses, deductions for home ownership, charitable donations, medical costs, education, retirement, and more; and information related to federally declared disasters. Having the completed checklist and supporting documents makes the tax preparation process more organized and ensures all relevant information is available.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    65 views3 pages

    Tax Prep Checklist

    Uploaded by

    Nabeel Samad
    The document provides a comprehensive tax prep checklist that includes personal information, sources of income, types of deductions, and documents needed for tax filing. The checklist covers items such as W-2, 1099, and 1098 forms; records of income, expenses, deductions for home ownership, charitable donations, medical costs, education, retirement, and more; and information related to federally declared disasters. Having the completed checklist and supporting documents makes the tax preparation process more organized and ensures all relevant information is available.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    The document outlines a checklist of documents needed to file taxes, including personal information, sources of income, and types of deductions.

    To claim dependents, one needs dates of birth, social security numbers, childcare records, income of other adults in the home, and Form 8332 if applicable.

    Sources of income that require documentation include employment (W-2), self-employment (1099 forms), rental income, retirement income (1099-R), savings and investments (1099 interest forms), and other income such as gambling or prizes.

    TAX PREP CHECKLIST 

     
    Use the tax checklist below to find the documents and forms you'll need to get started. 
     
    PERSONAL INFORMATION & LAST FILED TAX RETURN 
    ❏ Last filed tax return 
    ❏ Your social security number or tax ID number 
    ❏ Your spouse's full name and social security number or tax ID number 
     
    DEPENDENT(S) INFORMATION 
    ❏ Dates of birth and social security numbers or tax ID numbers 
    ❏ Childcare records (including the provider's tax ID number) if applicable 
    ❏ Income of other adults in your home 
    ❏ Form 8332 showing that the child’s custodial parent is releasing their right to claim a child to you, the 
    noncustodial parent (if applicable) 
     
    SOURCES OF INCOME 
     
    Employed 
    ❏ Forms W-2 
     
    Unemployed 
    ❏ Unemployment, state tax refund (1099-G) 
     
    Self-Employed 
    ❏ Forms 1099-MISC, Schedules K-1, income records to verify amounts not reported on 1099s 
    ❏ Records of all expenses — check registers or credit card statements, and receipts 
    ❏ Business-use asset information (cost, date placed in service, etc.) for depreciation 
    ❏ Office in home information, if applicable 
    ❏ Record of estimated tax payments made (Form 1040ES) 
     
    Rental Income 
    ❏ Records of income and expenses 
    ❏ Rental asset information (cost, date placed in service, etc.) for depreciation 
    ❏ Record of estimated tax payments made (Form 1040ES) 
     
    Retirement Income 
    ❏ Pension/IRA/annuity income (1099-R) 
    ❏ Traditional IRA basis (i.e. amounts you contributed to the IRA that were already taxed) 
    ❏ Social security/RRB income (1099-SSA, RRB-1099) 
     
    Savings & Investments or Dividends 
    ❏ 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) 
    ❏ Health Savings Account and long-term care reimbursements (1099-SA or 1099-LTC) 
    ❏ Expenses related to your investments 
    ❏ Record of estimated tax payments made (Form 1040ES) 
     
    Other Income & Losses 
    ❏ Gambling income (W-2G or records showing income, as well as expense records) 
    ❏ Jury duty records 
    ❏ Hobby income and expenses 
    ❏ Prizes and awards 
    ❏ Trusts 
    ❏ Royalty Income 1099 Misc. 
    ❏ Any other 1099s received 
    ❏ Record of alimony paid/received with Ex-spouse’s name and SSN 
     
    TYPES OF DEDUCTIONS 
     
    Home Ownership 
    ❏ Forms 1098 or other mortgage interest statements 
    ❏ Real estate and personal property tax records 
    ❏ Receipts for energy-saving home improvements 
    ❏ All other 1098 series forms 
     
    Charitable Donations 
    ❏ Cash amounts donated to houses of worship, schools, other charitable organizations 
    ❏ Records of non-cash charitable donations 
    ❏ Amounts of miles driven for charitable or medical purposes 
     
    Medical Expenses 
    ❏ Amounts paid for healthcare insurance and to doctors, dentists, hospitals 
     
    Health Insurance 
    ❏ Form 1095-A if you enrolled in an insurance plan through the Marketplace (Exchange) 
    ❏ Form 1095-B and/or 1095-C if you had insurance coverage through any other source (i.e . an employer, 
    insurance company, government health plan such as Medicare, Medicaid, CHIP, TRICARE, VA, etc.) 
    ❏ Marketplace exemption certificate (ECN) if you applied for and received an exemption from the Marketplace (Exchange) 
     
    Childcare Expenses 
    ❏ Fees paid to a licensed day care center or family day care for care of an infant or preschooler. 
    ❏ Wages paid to a baby-sitter. Don't include expenses paid through a flexible spending account at work. 
     
    Educational Expenses 
    ❏ Forms 1098-T from educational institutions 
    ❏ Receipts that itemize qualified educational expenses 
    ❏ Records of any scholarships or fellowships you received 
    ❏ Form1098-E if you paid student loan interest 
     
    Job Expenses & Tax Prep Fees 
    ❏ Employment related vehicle expenses (tolls, mileage, gas, maintenance, license, property tax, interest 
    expense, parking) 
    ❏ Receipts for classroom expenses (for educators in grades K-12) 
    ❏ Employment-related expenses (dues, publications, tools, uniform cost and cleaning, travel) 
    ❏ Job-hunting expenses 
    ❏ Record of moving expenses not reimbursed by employer 
    ❏ Amount paid for preparation of last year’s tax return 
     
    State & Local Taxes or Sales Tax 
    ❏ Amount of state/local income tax paid (other than wage withholding), or amount of state and local sales tax 
    paid 
    ❏ Invoice showing amount of vehicle sales tax paid 
     
    Retirement & Other Savings 
    ❏ Form 5498-SA showing HSA contributions 
    ❏ Form 5498 showing IRA contributions 
    ❏ All other 5498 series forms (5498-QA, 5498-ESA) 
     
    Federally Declared Disaster 
    ❏ City/county you lived/worked/had property in 
    ❏ Records to support property losses (appraisal, clean up costs, etc.) 
    ❏ Records of rebuilding/repair costs 
    ❏ Insurance reimbursements/claims to be paid 
    ❏ FEMA assistance information 
    ❏ Check FEMA site to see if my county has been declared a federal disaster area 

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