Checklist for Tax Preparation
Checklist For Tax Preparation
NEW Filing Requirement!
We must have a picture ID for the primary taxpayer and spouse [if applicable]. It can be a state or federal issued identification.
NEW IRS REQUIREMENT
Affordable Care Act Requirement: Form 1095-B. If you received an “exemption” then we will need a copy of that paperwork.
- Social Security Numbers : For any new dependents not listed on your last year’s return we will need a copy of the social security card
- Date of Birth: For all who will be listed on your return
- Address: Current address if changed from your previous year’s return
- Filing Status: Married (jointly or separately), Single, Head of Household, Qualifying Widow
- Email: Best email address to reach you
- Phone Number: Best number to reach you
- Occupation: Current for both taxpayer and spouse
- Blind: Are you or spouse are legally blind?
Employment & Income Data
- W-2 forms
- Unemployment compensation (Form 1099-G)
- Miscellaneous income (Form 1099-MISC)
- Partnership, S-Corporation, & trust income (Schedule K-1)
- Pensions and annuities (Form 1099-R)
- Social Security/RR1 benefits (Form RRB-1099)
- Prizes and awards
- State and local income tax refunds (Form 1099-G)
- Alimony received
- Cancelation of Debt (1099-C)
- Severance Pay
Financial Income Data
- Interest income statements (Form 1099-INT & 1099-OID)
- Dividend income statements (Form 1099-DIV)
- Proceeds from sale of residence (ONLY if Form 1099-S issued) NOTE* Will need basis information (date of purchase, purchase date, capital improvements)
- Proceeds from stock transactions (Form 1099-B): Note* Will need basis information (date of purchase and purchase price)
- Will need to be informed if you have any foreign bank accounts
Adjustment to Income
- Educator Expenses
- Reservist Expenses
- Moving Expenses: (if > 50 miles only)
- SEP, SIMPLE and Qualified Plan Contributions
- Self-employed Health Insurance
- Alimony Paid (Will need name and social security number of recipient)
- IRA Contributions (Form 5498)
- Student Loan Interest
- Medical & Dental: only if > 10% of AGI and must be paid out of pocket (not pre-tax)
- Property Taxes (home, vehicles and other personal property)
- Mortgage Interest (Form 1098). We will need to be told if the total of your mortgage loans exceed $1,000,000 ($500,000 if Married Filing Separately)
- Cash or Check: Will need list of all qualified 501(3)(c) Non-profit Organizations with amounts
- Non-Cash: Will need donation slip and valuations for each (we will not assess the values for you)
- Follow this link for Valuation Guide
- iPhone users, follow this link for the 'iDonatedIt' app to track and value your charitable donations
- Android users, follow this link for the 'Charitable Donations Log' app
- Follow this link to find qualified Non-Profit Organizations
- Casualty or Thefts
- Gambling Losses
- Unreimbursed Employee Business Expenses: Only those related to your job such as travel, uniforms, union dues, subscriptions, education home office (if for convenience of employer). See Home Office under Self Employment.
- Job Hunting
- Tax Preparation Fees
- Investment Expenses
- Safe Deposit Box Fees
NOTE: The last (5) listed above must exceed 2% of your AGI
- Any/all Forms 1099-MISC
- Total for any non-1099 income “constructively received”
- Listing of business related expenses. This must be in a format that lists each expense type by category (EXCEL spreadsheet, Quicken or QuickBooks reports, etc). We do not want a box of receipts or other source documents. If we have questions we reserve the right to request them at that time. We do have an EXCEL spreadsheet already formatted you are welcome to use.
- Home Office Items: Will need the following:
- Square footage of office
- Square footage of home
- Totals for heating & air, trash removal & recycling, homeowners insurance, HOA dues, security, pest control
- If first year rental is placed in service we will need the basis of the property. This is what you purchased it for and any capital improvements. We can use the closing statement and/or the county tax documentation.
- 1099-MISC for rental income. If none issued then total rent constructively received (not including refundable deposits).
- Expenses: mortgage interest (1098), property taxes, HOA dues, homeowners insurance, management fees, repairs, along with any other expenses.
Other Miscellaneous Items:
- Child and Dependent Care Expenses: Provider Information: Name, address, EIN# or social security number
- Education Expenses: Tuition & Fees paid (Form 1098-T)
- Earned Income Credit: Per IRS if you qualify for this credit we must conduct a short interview in our office.
- Residential Energy Expenses
- Adoption Expenses
- H.S.A distributions (If Form 1099-SA issued). Will need to know if family or individual plan and if distributions were used for qualified medical expenses)
- Estimated Tax Payments: Will need breakdown of each payment (amount and date)
- Follow this link to IRS Retirement Topics - Exceptions to Tax on Early Distributions
NOTE* This information is needed even if you took a pre-tax deduction from your work. If not reported it becomes taxable. (Box #10 of w-2)