Tax Documentation Cheat Sheet

Tax time is right around the corner.  Confused about all the documentation you’ll need to have to either prepare your own taxes or provide to a professional tax preparer, accountant, or CPA?

Here is a little cheat sheet of the documentations you will need to file your taxes:

• Social Security Number
• From your Employer: W-2 & Final Paycheck of the Tax Year
• If you’re Self Employed
  • Receipts/bills for work-related expenses (actual receipts vs. just Quickbooks entries, check register, or credit card statements)
  • Mileage record for work-related expenses
• 1099-MISC (If you are an Independent Contractor)
• 1099-INT  Interest earnings
• 1099-DIV Dividend earnings (stocks, mutual funds, money market accounts)
• 1099-B Reports on earnings from broker transactions if you use a broker
• Year-end financial statement for investment/retirement accounts
• 1098 Mortgage lender (indicates amount of interest you paid on personal home, vacation home, rental property, equity line of credit)
• Property Taxes (on your 1098 if paid out of an escrow account or separate documentation if paid out of pocket)
• Any state or local taxes (some states/counties charge “personal property tax” on vehicles or boats)
• Receipts for charitable giving
• Receipts for medical expenses (in some cases, may be deductible, check with a tax professional to determine your own eligibility)
• Accounting Software Printout or electronic file (to send to tax preparer)
• Copy of last year’s taxes (for reference)