TAX PREP CHECKLIST
EVERYONE
  • Social security numbers
  • Copy of last year's tax return (new clients only)
  • w-2 forms from all employers
  • 1099 forms from all other income
  • Charitable contributions
  • Medical expenses (incl. mileage)
  • Health Insurance Form 1095 (proof of insurance) - NOT required unless you have Obamacare
If you own a personal residence
  • Mortgage interest (1098 form)
  • Real estate taxes paid
  • Closing documents - if you bought or sold a home this year
  • Mortgage Insurance premiums (** not Homeowners)
  • Energy efficient upgrades (this year it is limited to large ticket items such as geo-thermal and solar systems).
If you own a rental property
  • Rental income
  • Receipts for all repairs, upgrades, and utiities
  • Mileage for repairs, inspections, etc.
  • Insurance premiums
  • Real estate taxes paid
  • Mortgage interest
If you own a business
  • Tax ID
  • Business income
  • Business expenses
  • Mileage logs
  • List of all capital assets (new clients only)
  • List of capital assets purchased and sold in the current year
    • What was purchased or sold
    • The date purchase or sold
    • Selling or purchase price
    • If selling an asset - the basis / cost and original purchase date
Other
  • IRA and HSA contributions
  • Education expenses
    • Student loan interest
    • Tuition
    • Fees
    • 1098 T from the college
  • Moving expenses
  • Investment expenses
  • Adoption expenses
  • Sales tax from major purchase (such as a new car)
  • FEMA assistance
  • Daycare receipt(s)
  • Employee business expenses
    • Tuition for work
    • Transportation expenses (not including commuting mileage)
    • Generally any expense you incurred for work that is a requirement for you to keep the job,  Ex.  K-12 teachers are required to obtain a masters degree.  Therefore, any non-reimbursed expenses to obtain their masters are deductible.


SBS - Home of Your TaxPro
443-614-6877
yourtaxpro@sbs.tax