Ensure a smooth tax preparation process with our comprehensive checklist. From personal identification to income, investments, and deductions, this guide helps you gather all necessary documents for an accurate and efficient tax return. Stay organized and stress-free with Avidd Financial Studio!
Personal Information
For Taxpayer, Spouse, and all dependents:
· Social Security Card
· Picture Identification (Driver’s License, Passport, or Identification Card)
· If alimony was paid, please provide amount full name and social security number of the recipient
Information About Other People Who May Belong on Your Return
Dependents:
· Birth Certificate
· Childcare records (Must include the provider’s Tax ID number)
· Proof of Address (Document must include dependents name + Taxpayer address)
· Income of other adults in your household
Income documentation
· W-2 Form (Wage and Tax Statement)
· 1099-G (Unemployment)
· 1099-NEC (Non-Employee Compensation)
· W-2G (Gambling income + expense records)
· 1099-SA / 1099-LTC (Health Savings Account)
· Other 1099
Rental Property
· Record of income and expenses
· Rental asset information (Cost, date placed in service, etc. for depreciation)
· Real estate and personal property tax records
· 1098 Mortgage Interest Statement
Retirement & Contributions
· 1099-R (Pension / IRA / Annuity income)
· 1099-SSA (Social Security Administration)
· RRB-1099 (Railroad Retirement Benefits)
· Form 5498 (Shows IRA contributions)
· Traditional IRA basis (i.e. amounts you contributed to the IRA that were already taxed)
Self-Employment
· 1099-NEC
· Schedules K-1
· Total gross income
· Bank statements to verify income
· Record of all expenses – check registers, credit card statements, and receipts
· Office in home information; if applicable
· 1099-MISC
· Profit & Loss Schedules from Farming Activities
Business Use of Vehicle Information
· Log showing total miles driven for the year (or beginning/ending odometer readings)
· Total business miles driven for the year (Other than commuting)
· Purpose of the mileage
· Amount of parking and tolls paid
· Invoice showing amount of vehicle sales tax paid
Education Payments
· 1098-T (From educational institutions)
· Receipts that itemize educational expenses
· Records of any scholarships or fellowships you received
· 1098-E (If you paid student loan interest)
Savings and Investments
· 1099-INT, 1099-OID, 1099-DIV (Interest, Dividend income)
· 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)
Affordable Care Act
· 1095-A (Obamacare: Ambetter, Oscar, Molina, Blue Cross Blue Shield)
· Marketplace exemption certificate
· 1095-B and/or 1095-C if you had insurance coverage through any other source (i.e. an employer, insurance company Medicare, Medicaid, CHIP, TRICARE, VA, etc.)
Other
· Receipts for classroom expenses (for educators in grades K-12)
· All other 5498 series forms (5498-QA, 5498-ESA)
· Record of moving expenses not reimbursed by employer
· Forms 1098 or other mortgage interest statements
· Amount of state/local income tax paid
· Cash amounts donated
· Records of non-cash charitable donations (GoodWill)
· Amounts paid for healthcare insurance and to related expenses
· Amounts of miles driven for 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
