Here’s a comprehensive list of items that could be required to prepare a Form 1040 tax return. Please note that not everything on this list will apply to you. If you have any questions, feel free to contact us.
Personal Information:
- Social Security Numbers (SSNs) for yourself, spouse, and dependents
- Names and birthdates for all individuals on the return
- Filing status information (single, married filing jointly, head of household, etc.)
Income Documents:
- W-2s for wages earned from employers.
- 1099-NEC for miscellaneous income (self-employment, freelance work, etc.)
- You will need to bring a summary of the business expenses you had related to your independent work. Please read this post regarding the requirements for business tax returns
- 1099-INT for interest income
- 1099-DIV for dividends
- 1099-B for brokerage transactions and capital gains
- 1099-G for government payments (unemployment compensation, tax refunds, etc.)
- 1099-R for distributions from pensions, IRAs, or annuities
- 1099 Consolidated Return (Investment companies such as TD Ameritrade, Robinhood, Coinbase, etc.)
- K-1 forms for income from partnerships, S corporations, trusts, or estates
Other Relevant Documents:
- Form 1095-A (You can ask your insurance agent or go to healthcare.gov)
- Records of estimated tax payments made
- Documentation for any tax credits claimed (Child Tax Credit, Earned Income Tax Credit, etc.)
- Prior-year tax return (for reference and to carry forward information)
It’s important to note that the specific items needed can vary based on individual circumstances. Taxpayers are encouraged to consult with a tax professional or use tax
Additional Income Sources:
- Rental income statements
- Expenses related to your rental property such as Property taxes, insurance, mortgage statement, repairs, improvements, maintenance, etc.
- Social Security income
- Gambling winnings (and losses)
Deduction and Credit Information:
- Mortgage interest statement (Form 1098)
- For itemized deductions (most claim standard deduction so this may not apply to you)
- Property tax records
- Sales tax paid on personal property such as vehicles
- Medical expenses documentation
- Charitable contributions
- Educational expenses and student loan interest paid (1098-T)
- Childcare expenses and provider information (Must include provider name SSN or EIN and address)
- Retirement account contributions (IRA, 401(k), etc.)
- Energy-efficient home improvement receipts (Solar Panels, Energy Efficient Windows, Etc)