What should I bring to my tax prep appointment?

Which documents should I bring to my tax appointment?

(Don’t be intimidated by the long list. Most people only require a small portion of these documents)

Personal Information

  • Your social security number and Your spouse’s full name and social security number

Dependent(s) Information

  • Dates of birth and social security numbers
  • Form 8332  child’s custodial parent is releasing their right to claim a child for you,  if applicable

Sources of Income

  • W2’s, Unemployment income, state tax refund 1099-G
  • 1099-MISC, Schedules K-1’s, income records to verify amounts not reported on 1099’s, and any other 1099’s received
  • Interest, dividend income, 1099-INT, 1099-OID, 1099-DIV
  • Rental records income, expenses and asset info (cost, date in service, etc.) depreciation, previous years detail report
  • Pension/IRA/Annuity income -1099-R or Social Security income 1099-SSA
  • Income from sales of stock or other property, 1099-B, 1099-S
  • Dates of acquisition and records of your cost or another basis in property you sold (if basis isn’t reported on 1099-B)
  • Health Savings Account and long-term care reimbursements- 1099-SA or 1099-LTC
  • Gambling income, W-2G, or other records showing income as well as expenses, loss statement from casino
  • Jury duty records, Prizes and awards
  • Hobby revenues and expenses
  • Trusts or Royalty Income 1099-MISC
  • Record of alimony paid/received with Ex-spouse’s name and social security number

Types of Deductions

Health Insurance

  • Form 1095-A if you have health insurance coverage through the Marketplace Exchange
  • Form 1095-B  or 1095-C  insurance policy through your employer, insurance company,  Medicare, Medicaid, CHIP, TRICARE, VA, etc
  • Marketplace exemption certificate if you received an exemption from the Marketplace Exchange

Business, Job Expenses and Tax Prep Fees

  • Employment related vehicle expenses, tolls, mileage, gas, maintenance, license, parking, etc…
  • Records for classroom expenses for educators K-12
  • Record of all expenses-Financial statements, registers, log books, etc…
  • Record of estimated tax payments made Form 1040ES
  • Any expenses related to your investments
  • Fixed Assets-Business use info (cost, date placed in service, etc.) for depreciation and previous years detail report
  • Employment-related expenses, dues, publications, tools, uniform cost, and cleaning, travel
  • Job-hunting expenses
  • Office in home information
  • History of moving expenses not reimbursed by employer
  • Amount paid for preparation of last year’s tax return

Home Ownership

  • Form 1098 or other mortgage interest statements including Real Estate and personal property tax records
  • Receipts for energy-savings home improvements-HVAC, windows, insulation, doors, water heater, etc.

Charitable Donations

  • Cash amounts donated to churches, schools, or other charitable organizations and Records of non-cash charitable donations
  • Number of miles driven for charity
  • Values given above $5,000 need to have appraisal record

Medical Expenses

  • Prices paid for healthcare insurance, out of pocket expenses to doctors, dentists, hospitals
  • Long-term care premiums
  • Number of miles driven for medical purposes

Childcare Expenses

  • Fees paid to a licensed day care center or family day care for care of an infant or preschooler and their federal ID number
  • Wages paid to a babysitter and their social security number (Don’t include expenses paid through a flexible spending account)

Educational Expenses

  • Forms 1098-T for qualified tuition from educational institutions
  • Records of any scholarships or fellowships you received
  • Receipts that itemize qualified educational expenses
  • Form 1098-E if you paid student loan interest

Retirement & Other Savings

  • Form 5498 showing IRA contributions and Form 5498-SA showing HSA contributions
  • Roth IRA basis
  • All 5498 series forms, 5498-QA, 5498-ESA

State & Local Taxes or Sales Tax

  • Amount of state/local income tax paid (other than wage withholding), or amount of state and local sales tax paid
  • Invoice showing amount of vehicle sales tax paid or other large purchase items

A Copy of Last Year’s Tax Return

This is just a starting point to give you an idea of the documents you will need. We may ask for additional information if needed. Call Balanced Book Taxes today to schedule your appointment. Call Deb at 719-201-4874.