Category: Forms Needed
Tax Documents Needed To Prepare Your Return
Be sure that you have on hand any of the following tax documents that you have received:
This is an important form, and you need one from each of your employers that you worked for during the past year. This form shows how much money you made, how much tax was withheld, Social Security and Medicare information and any contributions you may have made to a retirement plan, medical account or child care reimbursement.
To see a Sample W-2 click here
For homeowners, this form reports mortgage interest that is tax deductible. This document will usually be from your mortgage company and will contain additional information regarding your home loan, escrow for real estate taxes and property insurance.
To see a Sample 1098 click here
The interest on an educational debt or student loan is reported on this form. Your lender must send you a 1098-E if you have at least $600 in interest. You may be able to deduct your student loan interest and other loan-related amounts, like origination fees and capitalized interest.
To see a Sample 1098-E click here
Earnings for interest from a bank account or certificate of deposit are reported on this form. Even if you have received the income and don't have it in your hand, reinvested earnings are still taxable. 1099-INT statements are also issued for those who have cashed in savings bonds.
To see a Sample 1099-INT click here
Earnings from stocks and mutual funds are reported on this form. It will display both dividends or capital gains over $10.
To see a Sample 1099-DIV click here
Income from the sale of stocks, bonds or mutual funds is reported on a 1099-B that will be sent by your broker or mutual fund company. It will display the number of shares sold, when sold and the amount gained. You will need this information, along with the date of purchase and amount you initially paid for them, to complete your tax return.
To see a Sample 1099-B click here
If you received a state or local refund (Box 2) you will receive this form. If you used those taxes as a deduction last year for your federal income tax return, you will need to report the amount on the 1099-G. If you took the standard federal deduction you will not need to report this information.
If you received or collected unemployment compensation (Box 1), you will receive a separate 1099-G and will need to report that income.
To see a Sample 1099-G click here
If you received a pension or distribution from a retirement account or plan, the 1099-R displays the details. Issued by your broker, pension plan manager or mutual fund company this form is also used if you rolled over money in a retirement plan, like a 401(k) to an IRA, or you converted a traditional IRA to a Roth IRA. Rollovers are usually not taxable, but pension payouts may be.
To see a Sample 1099-R click here
If you earned more than $600 from a person or company as a self-employed individual you will receive a 1099-MISC from the individual or company. You will receive a separate 1099-MISC for each independent job you had during the previous year. This income is generally reported on the Schedule C.
To see a Sample 1099-MISC click here
Other forms that you may receive and need to report are:
Form 5498 - Contributions made to any individual retirement accounts. To see a sample Form 5498 click here.
Schedule K-1 - Income received from an estate, trust or partnership or S-corporation
When the forms arrive, be sure to verify the information so that you can correct any errors before filing.
Additional information or documents you will need:
Social Security Numbers (including spouse and children)
Birth dates (including spouse and children)
Medical and Dental Expenses
Real Estate and Personal Property Tax
Estimated or Foreign Taxes Paid
Donations - Cash and Non-Cash
Unreimbursed Employment - Related Expenses
Job Related Educational Expenses
Child Care Expenses & Provider Information
Self-Employed Business Expenses