TAX CHECKLIST OF THINGS TO GATHER FOR TAX RETURN
TAX CHECKLIST OF THINGS TO GATHER FOR TAX RETURN-2020
INCOME
W-2’s
Interest Earned Statements (1099I)
Dividends Earned (1099DIV)
Family Members Names, Social Security Numbers, and Dates of Birth
I will only need changes since I already have the existing family members
Alimony Received or Paid
Unemployment Received
IRA & Pensions received (W-2P or 1099R)
Social Security Received
Dividends/Capital Gains Distributions from stocks and mutual funds
Any Other Income i.e. Jury Duty, gambling winnings
Business Income/Expenses-Expenses broken down into categories, each category totaled See Page 2 of this flyer
Stock Sales (1099B) Records of when purchased and how much including # of shares and price per share.
Did you sell or exchange any cryptocurrency? These transactions are treated the same as a stock trade. It must be reported to the IRS.
**IRA’s funded by 4-15-21, specify traditional or Roth (Maximum contribution now $6000; $7000 if over age 50)
K-1’s (S-Corps, Partnerships)
HEALTH INSURANCE
Forms 1095-A (if you purchased insurance through an exchange)
CHILD CARE
Name, Address, SS#, Amount Paid to EACH child care giver, preschool and summer camp tuition
ITEMIZED DEDUCTIONS:
Medical only if it’s substantial out of pocket
State Income Taxes paid during Calendar Year
Property Taxes
Home Mortgage Interest & Points Paid (**Note: If you pay your mortgage to an individual, you must provide their name, address, & SS# on Schedule A)
Investment Interest
Donations-Cash & Property (i.e. Goodwill) must have a statement from non-profit organizations for any single donation over $250
Moving Expenses-ONLY FOR MILITARY PERSONNEL
Education Expenses (TEACHERS-Primary and Secondary education that work at least 900 hours can write off up to $250 of out of pocket expense
Student Loan Interest paid
RENTAL PROPERTY
Income
Expenses By Category
Advertising
Auto-usually the “mileage method” is the best-so track you business mileage
Repairs
Insurance
Interest Paid
Property Taxes Paid
Management Fees
Legal/Professional Fees
Travel
Utilities
SMALL BUSINESS- If you don’t see your category listed, tell me about it anyway. These are just the basic ones.
Income
Beginning & Ending Inventory-if applicable
Purchases (Cost of Goods)
Advertising
Auto-usually the “mileage method” is the best-so track you business mileage
Commissions/Fees
Insurance-including medical if not a group plan
Interest Paid
Legal/Professional Fees
Office Supplies
Postage
Rent or lease payments
Repairs/Maintenance
Supplies
Taxes/Licenses
Travel
Meals/Entertainment
Utilities
Wages
Other
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