Tax Preparation: Get Your Tax Papers Together, Part 1
Before you start doing your actual taxes, make sure you’ve got everything you need. Even if you decide to use a tax preparer rather than doing them yourself, you’ll still need to do this step.
Today, get together all of the following income-related papers, if they apply to you. You might have only one or two of these, or might have many of them.
- your social security number and basic information, such as your address and phone number
- W-2 forms from every employer you worked for this year
- records of tips you received, if they are not included on your W-2 forms
- records of wages not included on any W-2 or 1099 form, including foreign wages
- 1099B, 1099-INT, and 1099-DIV forms (these should be mailed to you by your brokerage company)
- year-end statements from your bank and brokerage companies
- purchase and sale documents for any investments you sold this year (not including sales made within retirement accounts like IRAs and 401ks)
- statements showing contributions to IRAs and 401ks, Keogh, SEP, SIMPLE, and other retirement accounts
- other forms mailed to you, such as Form 2439, 4029, 1099-G, 1099-PATR, schedules K-1 or Q
- receipts or stubs for any state or local tax refunds you received in the last year
- records for any business you own (such as if you are self employed), or any farm you own and run
- 1098 and 1099-MISC forms, plus records of purchases or sales of rental income property
- paperwork for Commodity Credit Corporation (CCC) loans for this year
- Forms SSA-1099, RRB-1099, 1099-R, 1099-Q, 1099-LTC, Form W-2G
- records of sales of your principal residence (your home) - not including vacation homes
- records of alimony received
- records of income from a taxable stipend, grant, scholarship or fellowship, or from jury duty
Next we’ll complete your paper-gathering with a look at deductions.
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Find out more about your taxes at http://www.helpwithincometax.com/.
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