Basic Checklist For Your Tax Return Preparation and Tax Deduction

By taking the time to create a checklist for both your tax return preparation and your tax deduction is a great way to ensure that these affairs are accurately and efficiently handled. We’re going to show you the different lists of items that you need to have ready for tax season in relation to your General Taxable Income, your Business Income, your Tax Credit and other General Information.

There’s the General Taxable Income list:

AlimonyReceived or Paid

Dividend IncomeStatements: Form 1099-DIV

Interest Income Statements: Form 1099-INT& 1099-OID

Miscellaneous Income: Form 1099-MISC

Retirement Income

Retirement Income: Form 1099-R Sales of Real Estate: Form 1099-S

Sales of Stock, Land, etc. for Capital Gains: Form 1099-B

State TaxRefunds: Form 1099-G

Social Security Incomeand Railroad Retirement Income: Form SSA-1099

Unemployment CompensationReceived

W-2 Form(s) for Wages, Salaries, and Tips

There’s the Business Income list:

Business Incomeand Expenses

Farm Income and Expenses

Form K-1 Income from Partnerships, Trusts, and S-Corporations

Rental Income and Expenses

Tax Deductible Miles Traveledfor Business Purposes

There’s the Tax Credits list:

AdoptionExpense Information

Child Care Provider Address, I.D. Number and Amounts Paid

First Time Home Buyer Tax Credit

Foreign Taxespaid

There’s a list for the General Information:

Bank Account Number (BAN) (For direct deposit/debit purposes)

Child Care Expensesfor Each Dependent

Copy of Last Year’s Tax Return

Dependents’ Names, Years of Birth, and Social Security Numbers

Dependents’ Post High School Educational Expenses

Educational Expensesfor You and Your Spouse

Prior Year Adjusted Gross Income (AGI) & Personal Identification Number (PIN)-how to find last year’s adjusted gross income (AGI)

Routing Transmit Number (RTN) (For direct deposit/debit purposes)

Social Security Numbers for You and Your Spouse

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