Income Tax Prep Checklist
Income Tax Prep Checklist
Documentation to prepare personal income tax returns
PROOF OF INCOME
- WAGES EARNED (W-2 DOCUMENTS)
- INDEPENDENT CONTRACTOR WAGES EARNED
- INVESTMENTS (INCLUDING DIVIDENDS)
- CREDIT UNION & BANK INTEREST EARNED
- UNEMPLOYMENT
- RENTAL INCOME
- TRUSTS
- PRIZES
- SOCIAL SECURITY
- RETIREMENT BENEFITS
- SALE OF REAL ESTATE
- INCOME FROM HOBBIES
- ALIMONY
- GAMBLING WINNINGS
- DEBT THAT HAS BEEN FORGIVEN
PROOF OF EXPENSES
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SELF-EMPLOYMENT EXPENSES, SUCH AS MILEAGE AND EQUIPMENT
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MEDICAL EXPENSES (OVER 10% OF YOUR ADJUSTED GROSS INCOME)
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DOCUMENTATION OF ANY INVESTMENTS YOU SOLD DURING THE YEAR
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TUITION PAYMENTS – FORM 1098-T IS SENT FOR QUALIFIED TUITION EXPENSES
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WORK-RELATED EDUCATION EXPENSES
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IRA CONTRIBUTIONS
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THE COST OF LAST YEAR’S TAX PREPARATION
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UNION DUES
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UN-REIMBURSED EMPLOYEE BUSINESS EXPENSES (CLIENT MEALS, TRAVEL, ETC.)
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STUDENT LOAN INTEREST – IF YOU PAID $600 OR MORE IN STUDENT LOAN INTEREST, YOU SHOULD RECEIVE A 1098-E FROM THE LENDER
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MORTGAGE LOAN INTEREST – IF YOU PAID $600 OR MORE IN STUDENT LOAN INTEREST, YOU SHOULD RECEIVE A 1098 FORM FROM THE LENDER
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CHARITABLE CONTRIBUTIONS – THIS INCLUDES NON-CASH DONATIONS, SUCH AS DONATED FOOD, CLOTHES, AND HOUSEHOLD GOODS. ANY VEHICLES OR BOATS DONATED TO A CHARITY WOULD RECEIVE A 1098-C
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