Tips on Fast & Affordable Tax Services

2016 TAX PREP CHECKLIST

Dependent(S) Information
  • Dates of birth and social security numbers or tax ID numbers

  • Childcare records (including the provider's tax ID number) if applicable

  • Income 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)

Sources Of Income
  • Employed

  • Forms W-2

  • Unemployed

  • Unemployment, state tax refund (1099-G)

  • Self-Employed

  • Forms 1099-MISC, Schedules K-1, income records to verify amounts not reported on 1099s

  • 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 1040ES)

  • 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 1040ES)

  • 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 (1099-SSA, RRB-1099)

  • 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 1040ES)

  • Other Income & Losses

  • Gambling income (W-2G or records showing income, as well as expense records)

  • Jury duty records

  • Hobby income and expenses

  • Prizes and awards

  • Trusts

  • Royalty Income 1099 Misc.

  • Any other 1099s received

  • Record of alimony paid/received with Ex-spouse’s name and SSN

Types Of Deductions
  • Home Ownership

  • Forms 1098 or other mortgage interest statements

  • Real estate and personal property tax records

  • Receipts for energy-saving home improvements

  • All other 1098 series forms

  • 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 purposes

  • Medical Expenses

  • Amounts paid for healthcare insurance and to doctors, dentists, hospitals

  • Health Insurance

  • Form 1095-A if you enrolled in an insurance plan through the Marketplace (Exchange)

  • Form 1095-B and/or 1095-C if you had insurance coverage through any other source (i.e . an employer, insurance company, government health plan such as Medicare, Medicaid, CHIP, TRICARE, VA, etc.)

  • Marketplace exemption certificate (ECN) if you applied for and received an exemption from the Marketplace (Exchange)

  • Childcare Expenses

  • Fees paid to a licensed day care center or family day care for care of an infant or preschooler.

  • Wages paid to a baby-sitter. Don't include expenses paid through a flexible spending account at work.

  • Educational Expenses

  • Forms 1098-T from educational institutions

  • Receipts that itemize qualified educational expenses

  • Records of any scholarships or fellowships you received

  • Form1098-E if you paid student loan interest

  • Job Expenses & Tax Prep Fees

  • Employment related vehicle expenses (tolls, mileage, gas, maintenance, license, property tax, interest expense, parking)

  • Receipts for classroom expenses (for educators in grades K-12)

  • Employment-related expenses (dues, publications, tools, uniform cost and cleaning, travel)

  • Job-hunting expenses

  • Record of moving expenses not reimbursed by employer

  • Amount paid for preparation of last year’s tax return


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