Family Life




Everything You Need to Have on Hand for Your Taxes

Everything You Need to Have on Hand for Your Taxes

Is it time for you to do your taxes? If so, you're in the right place. We've got a list of everything you'll need to prepare for your taxes, as well as some tips to help you through this process. Let's get into it.

Tax Preparation Checklist

Personal Data

* Social Security Numbers (including spouse and children)
* Child care provider: Name, address and tax I.D. or Social Security Number
* Alimony paid: Social Security Number

Employment & Income Data

* W-2 forms for this year
* Unemployment compensation: Forms 1099-G
* Miscellaneous income including rent: Forms 1099-MISC
* Partnership, S Corporation, & trust income: Schedules K-1
* Pensions and annuities: Forms 1099-R
* Social Security/RR1 benefits: Forms RRB-1099
* Alimony received
* Jury duty pay
* Gambling and lottery winning
* Prizes and awards
* Scholarships and fellowships
* State and local income tax refunds: Form 1099-G

Homeowner/Renter Data

* Residential address(es) for this year
* Mortgage interest: Form 1098
* Sale of your home or other real estate: Form 1099-S
* Second mortgage interest paid
* Real estate taxes paid
* Rent paid during tax year
* Moving expenses

Financial Assets

* Interest income statements: Form 1099-INT & 1099-OID
* Dividend income statements: Form 1099-DIV
* Proceeds from broker transactions: Form 1099-B
* Retirement plan distribution: Form 1099-R

Financial Liabilities

* Auto loans and leases (account numbers and car value) if vehicle used for business
* Student loan interest paid
* Early withdrawal penalties on CDs and other time deposits


* Personal property tax information


* Gifts to charity (qualified written statement from charity for any single donations of $250 or more)
* Unreimbursed expenses related to volunteer work
* Unreimbursed expenses related to your job (travel expenses, uniforms, union dues, subscriptions)
* Investment expenses
* Job-hunting expenses
* Job-related education expenses
* Child care expenses
* Medical Savings Accounts
* Adoption expenses
* Alimony paid
* Tax return preparation expenses and fees

Self-employment Data

* Business income: Forms 1099-MISC and/or own records
* Partnership SE income: Schedules K-1
* Business-related expenses: Receipts, other documents & own records
* Farm-related expenses: Receipts, other documents & own records
* Employment taxes & other business taxes paid for current year: Payment records

Miscellaneous Tax Documents

* Federal, state & local estimated income tax paid for current year: Estimated tax vouchers, cancelled checks & other payment records
* IRA, Keogh and other retirement plan contributions: If self-employed, identify as for self or employees
* Records to document medical expenses
* Records to document casualty or theft losses
* Records for any other expenditures that may be deductible
* Records for any other revenue or sales of property that may be taxable or reportable

Tips to Keep in Mind When Preparing Taxes

Preparing taxes can be stressful. Keep these tips in mind to help you have a smooth and efficient tax filing experience.

Consult a tax professional. Whenever you have questions or concerns about your taxes, contact a certified tax professional. They'll be able to help you with any questions or concerns you have. They can also help you complete your taxes, or do them for you. Make sure you do your research on any tax professional you're interested in seeing to ensure they're well-rated and experienced.

Take your time. It's important to take your time with your taxes so that you don't make mistakes. While it's understandable to want to get your taxes done as soon as possible, rushing through them will only cause problems for you. Go through each step carefully and meticulously, and double-check your work.

Don't start last minute. Putting off something you don't want to do is a normal part of life. Putting off your taxes, however, is not a great idea. You'll want to start doing your taxes a couple of weeks before the deadline, at least. That way, any questions or concerns that arise can be sent to a tax professional to be addressed. Plus, you won't feel the need to rush through your taxes.

Take breaks as needed. If you feel yourself becoming overwhelmed by your taxes, take a break. By starting ahead of time, you'll have room to take breaks as needed. Taxes can be stressful, but they shouldn't be overwhelming. Take care of yourself!

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