Tax Preparation Check list
In order for the PB Tax & Insurance team to accurately file a full tax return, please look over each section of this list to know what tax document you will need to file your taxes. Not every document will apply to you. Feel free to call us (561) 777-6828 or email pbtaxinsurance@gmail.com if you have any questions. We are here to help! You can also visit https://www.irs.gov/individuals/steps-to-take-now-to-get-a-jump-on-next-years-taxes to learn more about what you may need to file your taxes.
Background
Personal Information
- Filer's social security number or tax ID number
- Your spouse’s full name, social security number or tax ID number, and date of birth
- Routing and account numbers to receive your refund by direct deposit or pay your balance due if you choose
Dependent(s) Information
- Date(s) of birth
- Social security number(s) or tax ID number(s)
- Childcare records (including the provider’s tax ID number) if applicable
- Income of dependents and of other adults in your home
- Form 8332 showing that the child’s custodial parent is releasing their right to claim a child to you, the noncustodial parent (if applicable)
- IRS Letter 6419 – official documentation that has the details you need to report your advance Child Tax Credit (CTC) payments
Income Sources
Employed
- W-2 form(s)
Unemployed
- 1099-G: Unemployment income
Self-employed
- Forms 1099, Schedules K-1, income records to verify amounts not reported on 1099- MISC or new 1099-NEC
- 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
- Record of estimated tax payments made (Form 1040–ES)
Savings, investments or dividends
- 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 (if basis is not reported on 1099-B)
- Health Savings Account and long-term care reimbursements (1099-SA or 1099-LTC)
- Expenses related to your investments
- Record of estimated tax payments made (Form 1040–ES)
- Transactions involving cryptocurrency (Virtual currency)
Other income & Losses
- Any other 1099s received
- Hobby income and expenses
- Cash & Noncash gifts
- Gambling income (W-2G or records showing income, as well as expense records)
- Jury duty records
- Trust Income
- Royalty income 1099-MISC
- prizes and awards
- Record of alimony paid/received with ex-spouse’s name and SSN
- State tax refund
Retirement Income
- Pension/IRA/annuity income (1099-R)
- Traditional IRA basis (i.e., amounts you contributed to the IRA that were already taxed)
- Social security/RRB income (SSA-1099, RRB-1099)
Rental Income
- Records of income and expenses
- Rental asset information (cost, date placed in service, etc.) for depreciation
- Record of estimated tax payments made (Form 1040–ES)
Deductions
Home ownership
- Forms 1098 or other mortgage interest statements
- Real estate and personal property tax records
- Receipts for energy-saving home improvements (e.g., solar panels, solar water heater)
- All other 1098 series forms
Childcare expenses
- Fees paid to a licensed day care center or family day care for care of an infant or preschooler
- Amounts paid to a baby-sitter or provider care of your child under age 13 while you work
- Expenses paid through a dependent care flexible spending account at work
Medical Expenses
- Amounts paid for healthcare, insurance, and to doctors, dentists, and hospitals
Health Insurance
- Form 1095-A if you enrolled in an insurance plan through the Marketplace (Exchange)
Charitable donations
- Cash amounts donated to houses of worship, schools, other charitable organizations
- Records of non-cash charitable donations
- Amounts of miles driven for charitable or medical purpose
Educational expenses
- Forms 1098-T from educational institutions
- Receipts that itemize qualified educational expenses
- Records of any scholarships or fellowships you received
- Form 1098-E if you paid student loan interest
Retirement & other savings
- Form 5498-SA showing HSA contributions
- Form 5498 showing IRA contributions
- All other 5498 series forms (5498-QA, 5498-ESA)
K-12 Educator expenses
- Receipts for classroom expenses (for educators in grades K-12)
State & local taxes
- Amount of state and local income or sales tax paid (other than wage withholding)
- Invoice showing amount of vehicle sales tax paid and / or personal property tax on vehicles
Federally declared disaster
- City/county you lived/worked/had property in
- Records of rebuilding/repair costs
- Records to support property losses (appraisal, clean-up costs, etc.)
- Insurance reimbursements/claims to be paid
- FEMA assistance information
- Check the FEMA website (www.fema.gov) to see if your county has been declared a federal disaster area