ANNUAL TAX DOCUMENTATION REQUIREMENT (CHECK YOUR LIST)

Required documents to keep on file:

  • Copies of Driver’s License or State IDs
  • Social Security Cards
  • Proof of Residence for dependents claiming EIC

Income documents:

  • Income from jobs: forms W-2 for you and your spouse
  • Investment income—various forms 1099 (-INT, -DIV, -B, etc.), K-1s, stock option information
  • Income from state and local income tax refunds and/or unemployment: forms 1099-G
  • Taxable alimony received
  • Business or farming income—profit/loss statement, capital equipment information
  • If you use your home for business—home size, office size, home expenses, office expenses
  • IRA/pension distributions—forms 1099-R, 8606
  • Rental property income/expense—profit/Loss statement, rental property suspended loss information
  • Social Security benefits—forms SSA-1099
  • Income from sales of property—original cost and cost of improvements, escrow closing statement, cancelled debt information (form 1099-C)
  • Prior year installment sale information—forms 6252, principal and Interest collected during the year, SSN and address of payer
  • Other miscellaneous income—jury duty, gambling winnings, Medical Savings Account (MSA), scholarships, etc.

Other tax documents:

  • IRA contributions
  • Energy credits
  • Student loan interest
  • Medical Savings Account (MSA) contributions
  • Moving expenses (for tax years prior to 2018 only)
  • Self-employed health insurance payments
  • Keogh, SEP, SIMPLE and other self-employed pension plans
  • Alimony paid that is tax deductible
  • Educator expenses
  • State and local income taxes paid
  • Real estate taxes paid
  • Personal property taxes—vehicle license fee based on value
  • Estimated tax payment made during the year, prior year refund applied to current year, and any amount paid with an extension to file.
  • Direct deposit information—routing and account numbers
  • Foreign bank account information—location, name of bank, account number, peak value of account during the year

 

Tax deduction documents:

  • Advance Child Tax Credit payment
  • Letter 6419, Advance Child Tax Credit Reconciliation
  • If you received ‘Your Third Economic Impact Payment’, Letter 6475
  • Child care costs—provider’s name, address, tax id, and amount paid
  • Education costs—forms 1098-T, education expenses
  • Adoption costs—SSN of child, legal, medical, and transportation costs
  • Home mortgage interest and points you paid—Forms 1098
  • Investment interest expense
  • Charitable donations—cash amounts and value of donated property, miles driven, and out-of-pocket expenses
  • Casualty and theft losses—amount of damage, insurance reimbursements
  • Other miscellaneous tax deductions—union dues, unreimbursed employee expenses (uniforms, supplies, seminars, continuing education, publications, travel, etc.)  (for tax years prior to 2018 only)
  • Medical and dental expenses