What Information Do I Need To Do My Personal Taxes?
Gathering your tax documents can be stressful because you don’t want to forget anything. We wanted to give you a general list of items that might be applicable to any tax situation to help make the process a little smoother:
- Social Security Numbers and dates of birth for you, your spouse, and dependents
- Copies of last year’s return for you and your spouse
- Bank account number and routing number, if depositing your refund directly into your account
- Estimated tax payment documentation of either a check, bank records, or online confirmation printout of payment.
- Forms 1095-A, B and C, Health Coverage Statements
- W-2 forms for you and your spouse
- 1099-C forms for cancellation of debt
- 1099-G forms for unemployment income, or state or local tax refunds
- 1099-MISC forms for you and your spouse (for any independent contractor work)
- 1099-R, Form 8606 for payments/distributions from IRAs or retirements plans
- 1099-S forms for income from sale of a property
- 1099-INT form for interest
- 1099-DIV form for dividends
- 1099-B for broker-handled transactions
- K-1’s from partnership, s corporations, or trusts and estate beneficiaries
- SSA-1099 for Social Security benefits received
- Alimony received
- Business or farming income: Profit and Loss statement, capital equipment information
- Rental property income and expenses: Profit and Loss statement, suspended loss information
- Prior year installment sale information-Forms 6252, principal and interest collected during the year, SSN and address for payer
- Miscellaneous income: jury duty, gambling winnings, Medical Savings Account, scholarships, etc.
ADJUSTMENTS TO INCOME
- 1098-E for student loan interest paid (or loan statements for student loans)
- 1098-T for tuition paid (or receipts/canceled checks for tuition paid for post-high school)
- For teachers: Receipt totals for expenses paid for classroom supplies, etc.
- IRA contributions made during the year
- Self-employed health insurance payment records
- Alimony paid
- Keogh, SEP, SIMPLE, and other self-employed pension plans
- HSA contributions
IF YOU ITEMIZE YOUR DEDUCTIONS
- Child care costs: provider’s name, address, tax ID, and amount paid
- Forms 1098: Mortgage interest, private mortgage insurance (PMI), and points you paid
- Charitable donations: cash amounts, official charity receipts, canceled checks, value of donated property, miles driven and out-of-pocket expenses.
- Medical and dental expense records (threshold is anything over 10% AGI)
- Property tax on home, car, boat, or other personal property (limit is $10,000)
- State income tax or state sales tax
Do you want more information on tax? Download our free tax ebook!