Tax Prep

Personal Information

  • Your social security number
  • Your spouse’s full name and social security number
  • Amount of any alimony paid and ex-spouse’s social security number
  • Add Your 2020, 2019, and/or 2018 tax return(s). Your Tax Professional can check them for accuracy

Other people who may belong on your return

  • Dates of birth and social security numbers
  • Childcare records (including the provider’s ID number) if applicable
  • Approximate income of other adults in your home (not spouse, if you’re filing jointly)
  • Form 8332, copies of your divorce decree, or other documents showing that your ex-spouse is releasing their right to claim a child to you

Education Payments

  • Bills from the educational institution or anything else that itemizes what you paid or received loans for versus what was covered by scholarship or other financial aid
  • Forms 1098-T and 1098-E, if you received them
  • Scholarships and fellowships

Employee Information

  • Forms W-2

Self-Employment Information

  • Forms 1099-MISC, Schedules K-1, income records to verify amounts not reported on 1099s.
  • Records of all expenses — check registers or credit card statements, and receipts
  • Business-use asset information (cost, date placed in service, etc.) for depreciation
  • Office in home information, if applicable

Vehicle Information

  • Total miles driven for the year (or beginning/ending odometer readings)
  • Total business miles driven for the year (other than commuting)
  • Amount of parking and tolls paid
  • If you want to claim actual expenses, receipts or totals for gas, oil, car washes, licenses, personal property tax, lease or interest expense, etc.

Rental Income

  • Records of income and expenses
  • Rental asset information (cost, date placed in service, etc.) for depreciation

Retirement Income

  • Pension/IRA/annuity income (1099-R)
  • Social security/RRB income (1099-SSA, RRB-1099)

Savings and Investments

  • Interest, dividend income (1099-INT, 1099-OID, 1099-DIV)
  • 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

Other Income

  • Unemployment, state tax refund (1099-G)
  • Gambling income (W-2G or records showing income, as well as expense records)
  • Amount of any alimony received and ex-spouse’s name
  • Health care reimbursements (1099-SA or 1099-LTC)
  • Jury duty records
  • Hobby income and expenses
  • Prizes and awards
  • Other 1099

Itemizing Deductions

  • Forms 1098 or other mortgage statements
  • Amount of state/local income tax paid (other than wage withholding), or amount of state and local sales tax paid
  • Real estate and personal property tax records
  • Invoice showing amount of vehicle sales tax paid
  • HUD statement showing closing date of home purchase
  • Cash amounts donated to houses of worship, schools, other charitable organizations
  • Records of non-cash charitable donations
  • Amounts paid for healthcare insurance and to doctors, dentists, hospitals
  • Amounts of miles driven for charitable or medical purposes
  • Expenses related to your investments
  • Amount paid for preparation of your previous years tax return
  • Employment-related expenses (dues, publications, tools, uniform cost and cleaning, travel)
  • Job-hunting expenses

IRA Information

  • Amount contributed for previous tax year (and current tax year, if applicable)
  • Traditional IRA basis
  • Value of IRAs on Dec. 31

If you were affected by a federally declared disaster

  • City/county you lived/worked/had property in
  • Records to support property losses (appraisal, clean up costs, etc.)
  • Records of rebuilding/repair costs
  • Insurance reimbursements/claims to be paid
  • FEMA assistance information

Check FEMA site to see if your county qualifies for individual assistance

Income

  • Gross receipts from sales or services
  • Sales records (for accrual based taxpayers) Beginning inventory (if applicable)
  • Ending Inventory (if applicable) Items removed for personal purposes (if applicable)
  • Returns and allowances
  • Business checking and savings account interest (1099-INT or statement)

Transportation & Travel Expenses

  • Local Transportation
  • Business trip (mileage)
  • Contemporaneous log or receipts for public transportation, parking and tolls.
  • Travel away from home
  • Airfare or mileage (actual expense if drove)
  • Hotels Meals and tips
  • Taxes and tips Internet connection (hotel, Internet café, etc.)

Additional Expenses

  • Advertising

Commissions paid to subcontractors

  • File Form 1099-MISC and 1096 as necessary

Depreciation

  • Cost and acquisition date of assets
  • Sales price and disposition date of any assets sold

Fringe benefits

  • Employer-paid pension/profit sharing contributions
  • Employer-paid HSA contributions
  • Employer-paid health insurance premiums
  • Cost of other fringe benefits

Business insurance

  • Casualty loss insurance
  • Errors and omissions

Interest expense

  • Mortgage interest on building owned by business
  • Business loan interest
  • Legal fees

Office supplies

  • Pens, paper, staples, etc.
  • Other consumables

Rent expense

  • Office space rent
  • Business-use vehicle lease expense
  • Other

Office-in-home

  • Square footage of office space (hours of use for daycare business)
  • Total square footage of home (not applicable for daycare business)
  • Mortgage interest or rent paid
  • Utilities

Wages paid to employees

  • Form W-2 and W-3 Federal and state payroll returns (Form 940, etc.)

Other expenses

  • Repairs, maintenance of office facility, etc