There are current requirements for taxpayers to bring before filing taxes with your tax professional.
Here are the important ones:
- Social Security Numbers, date of birth for you, your spouse and your dependents.
- Bank account numbers and routing numbers- this is important to receive your refund sooner with a direct deposit.
Other forms are needed to expedite your refund and lessen tax audit risks.
Information about your income
- W2 form for you and your spouse.
- 1099-MISC forms for you and your spouse
- 1099-C is you canceled a debt
- 1099-G form for unemployment income
- SSA-1099 for Social Security benefits
- 1009-R or form 8606 (Retirement)
- 1099-S forms for income from the sale of a property.
- 1099-INT for investment or interest income
- Business income-profit/loss statement
- Rental income property
Important tax forms for students
- Form 1098-E for student loan interest paid (or loan statements for student loans).
- Form 1098-T for tuition paid (canceled checks for tuition, books, supplies, etc.). Organize and keep your receipts or track it via the app so come tax time it’ll be easy to find.
- Education costs: Form 1098-T, education expenses
Important Deductions and Credits
- Child care costs: you need the provider’s name, tax ID and the amount paid.
- Form 1098- Mortgage interest
- Investment interest expenses
- Charitable donations
- Medical and dental expense records
Don’t forget the taxes you paid
- State and local income taxes paid
- Real estate taxes paid
- Personal Property taxes
- Vehicle license fees for your business.
Tax Prep checklist guide
Having the following documents speeds up the process and maximizes your potential refund.
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