To make the e-filing process quicker, gather your forms and tax documents before you begin. Remember that the sooner you file, the sooner you’ll get your refund. Below is a tax document checklist with information and records you’ll need to make slaying your taxes easier this year.
What documents do I need to file my taxes?
Once you’ve received all your tax documents, a checklist like this one can help make the filing process a breeze. Having these forms and records handy when you sit down to file could save you time and effort.
Personal Information
- A Social Security or tax ID number for everyone included on your tax return You need your own number, but don’t forget your spouse and dependents (where applicable) as well. If someone doesn’t have an SSN, you’ll need their TIN instead.
- Date of birth for everyone on your return
- Driver’s license for you (and your spouse if applicable)
Income and Investments
- Form W-2, Wage and Tax Statement – Your W-2 shows how much you earned and how much was withheld for taxes. Your employer has until February to send your form. If you haven’t received yours by then, go ahead and request it.
- Bank or financial institution statements – Did you make contributions to an IRA? You’ll need Form 5498. Are you paying down student loan debt? Be sure to grab your Form 1098-E.
- Last year’s state refund amount – If you itemize your deductions, then your state refund is considered income for tax purposes.
- Information about stocks you traded or sold (Forms 8945 and 8949) – If you purchased or traded any stock this year, you probably experienced a gain or a loss, which will need to be reported on your tax return.
- Other miscellaneous income records – This could include award money, gambling winnings, lottery payouts, etc.
- Any (and all) Form 1099s – There are several different types of 1099. Some of the common ones include:
- 1099-NEC – if you are self-employed and received $600+ from a client.
- 1099-DIV – if you received dividends.
- 1099-G – if you received money or benefits from the government.
- 1099-K – if you made third-party transactions (through PayPal or Venmo, for example). Beginning in tax year 2023, the IRS requires taxpayers to report any and all third-party transactions over $600.
- 1099-R – for distributions from a retirement plan, IRA, pension, annuity, etc.
- 1099-MISC – if you have paid at least $600 in rent, prizes and awards, medical and healthcare payments, or other income payments.
Dependent Info
- Child and dependent care expenses – On top of needing SSNs and dates of birth on hand for everyone on your return, you’ll also need to report any qualifying care expenses if you plan to claim the Child and Dependent Care Credit.
- Education expenses – If your child is a full-time student, you may qualify for certain education tax breaks. See which documents you’ll need under the education section below.
Self-Employment and Business Records
- Business expense records – These could be receipts, credit card statements, records of checks you’ve written, etc.
- Quarterly estimated tax payment receipts – If you make installments to your tax bill during the year, the IRS (and your state) should send you a record of what you paid – similar to a receipt.
- Mileage records – In order to get a deduction for your travel, you’ll need to know how many miles you drove for work purposes.
- Home office expenses – Taking the home office deduction? You’ll need to know how big your space is in square feet. If you decide to use the actual expense method, you’ll also need a record of your home-related expenses, like utilities and mortgage (or rent).
Retirement
- Retirement plan contributions and distributions – Retirement can have a big impact on the forms and records you need to file your taxes. Did you receive a distribution from an annuity? Withdraw money from retirement savings? Make a contribution to a 529? You can expect to receive certain forms:
- Form 5498: IRA Contributions Information – The institution(s) that manage your funds will send you this form showing your annual contribution.
- Forms 1099-R – You should receive this form if you had distributions from a pension, retirement plan, profit-sharing program, an IRA, or an annuity
- Form 1099-INT – You’ll receive this form if you earned $10 or more in interest on savings or investments from a bank, brokerage, or other financial institution.
- Form 1099-DIV– If any of your stocks pay dividends, or if a mutual fund you invest in issued a capital gains distribution during the year, you’ll receive this form.
Education
- Tuition and qualified expenses paid (Form 1098-T) – Reports scholarship or grant income, plus any expenses paid to the school. Use this information to see if you qualify for an education credit.
- Student loan interest paid (Form 1098-E) – If you paid any interest on your student loans, it could be deducted from your taxes.
Medical Expense Records
- Receipts for unreimbursed medical expenses – These could include exams, surgeries, and preventative care. It could also be braces, glasses, hearing aids, prescriptions – even transportation to and from treatment.
- Form 1095: Health insurance coverage forms – If you are enrolled through the Marketplace, you’ll receive Form 1095-A. Insurance providers will send a 1095-B for individuals they cover. If your employer offers coverage, they should send you a 1095-C.
- Social Security benefits – If you receive Social Security, you’ll receive an SSA-1099 in January showing the total amount of benefits you received for the year.
Charitable Donations
- Charitable donation receipts – If you plan to take a tax deduction for the donations you made to charity, you’ll need to be able to back them up with receipts showing the date, value, and charitable organization. Items that could qualify for a tax deduction include:
- Furniture and furnishings
- Electronics
- Appliances
- Linens (sheets, towels, etc.)
- Qualified vehicles
- Monetary gifts
Homeownership Info
- Property tax receipts – If you itemize your deductions, you could write off a portion of the property taxes you paid.
- Mortgage interest – If you took out a home mortgage this year, grab your Form 1098 Mortgage Interest Statement. You may be able to deduct the interest on up to $750,000 of qualified residence loans.
Federally Declared Disaster Records
- Damage documentation – If you live in an area impacted by a federally declared disaster, you can deduct casualty and theft losses to your home, household items, and vehicles. The IRS disaster loss workbook has lots of information about what you’ll need to prove the market value of items for insurance and casualty loss claims.
- Proof of residency – This could be a lease agreement, utility bills, property tax receipts, or voter registration card
How a tax prep checklist can help you file your return
Simply put, a checklist can help you organize ahead of time so your tax filing process is quicker.
If you choose the fully guided filing experience with TaxSlayer, you’ll be asked questions about the information on these documents. Then, your answers will automatically be filled in where they belong on your tax return. Otherwise, you may choose to enter the info into different forms on your own. Either way, you are guaranteed a 100% accurate return and your maximum possible refund.
Frequently Asked Tax Document Questions
Are you still trying to figure out which papers to save? We’ve answered some FAQs below:
Will I get a tax document for my 401k?
Technically yes, your 401k contributions are documented on your W-2. When you file that year’s tax return, you must report 401k contributions as an adjustment on Schedule 1 (Form 1040).
How long should you keep tax documents?
It depends. The IRS requires you to keep tax documents for at least three years (link) after they’ve been filed. But there are some instances where you might need to hold on to your records for longer.
Let’s say you’ve made a mistake and decide to amend your return, and you’ll have up to three years to file your amendment and get your money. The IRS also has up to three years (sometimes six) to audit your return. So, it’s a good idea to keep your documents on hand in case of emergencies.
Read more about receipt organization and document storage.
How do I document mileage for taxes?
First, make sure you track each work-related trip. You can do this the old-fashioned way by looking at your odometer and doing the math once you arrive at your destination, or you can find the “trips” setting on your car’s odometer.
The next step depends on your preference. To calculate the business mileage deduction, you can use the standard mileage method or the actual expense method.
What documents do I need to include with my tax return?
You’ll want to include a copy of any Form W-2, W-2G and 2439, and Form 1099-R if tax was withheld. TaxSlayer will also attach necessary schedules, based on the info you’ve entered.
What documents do I need to keep for tax purposes?
You’ll want to hang on to any records that support the different deductions and credits you claimed on your tax return. You also want to keep the forms that show how much income you earned. In general, the IRS requires you to keep your tax records for a minimum of three years after you file them.
