What Documents Do I Need To Prepare Before Filing My Income Tax Return?

Essential Documents for Filing Income Tax Return

1. Personal Information: Social Security number (or taxpayer identification number) for yourself, your spouse (if filing jointly), and any dependents.

2. Income Documents: 

Form W-2: Wage and salary statement provided by your employer(s), showing your earnings, taxes withheld, and other relevant information.

Form 1099-MISC: Miscellaneous income statement for self-employment income, freelance work, or other non-employee compensation.

Form 1099-INT: Interest income statement for interest earned on bank accounts, CDs, or other investments.

Form 1099-DIV: Dividend income statement for dividends received from stocks, mutual funds, or other investments.

Form 1099-B: Brokerage statement for capital gains and losses from the sale of stocks, bonds, or other securities.

Form 1099-R: Retirement income statement for distributions from retirement accounts such as IRAs, 401(k)s, or pensions.

Schedule K-1: Partnership or S corporation income statement for your share of income, deductions, and credits from pass-through entities.

Other income documentation: Any other income received during the tax year, such as rental income, alimony, unemployment compensation, or gambling winnings.

3. Deduction and Credit Documents:

Form 1098: Mortgage interest statement for deductible mortgage interest paid on a qualified home loan.

Property tax statements: Statements showing property taxes paid on real estate owned during the tax year.

Receipts and records: Documentation for deductible expenses such as charitable contributions, medical expenses, education expenses, business expenses, and other itemized deductions.

Health insurance coverage: Form 1095-A, 1095-B, or 1095-C to report health insurance coverage information, if applicable.

Education expenses: Form 1098-T for tuition payments, student loan interest statements, and records of education-related expenses for tax credits or deductions.

Child and dependent care expenses: Records of expenses paid for child care or dependent care to claim the Child and Dependent Care Credit.

Energy-efficient home improvements: Receipts and documentation for energy-efficient home improvements eligible for tax credits, such as the Residential Energy Efficiency Property Credit.

4. Tax Forms and Worksheets:

Previous year's tax return: Copy of your previous year's tax return for reference and to carry forward certain information.

Tax forms and worksheets: Any additional tax forms, schedules, or worksheets needed to report specific income, deductions, or credits.

5. Banking and Financial Statements:

Bank statements: Records of bank account transactions, interest earned, and other financial activities.

Investment statements: Statements from brokerage accounts, retirement accounts, and other investment accounts showing transactions, dividends, capital gains, and losses.

Loan statements: Statements for student loans, mortgages, or other loans showing interest paid during the tax year.

6. Additional Information: Please keep any IRS or state tax authority notices, records of estimated tax payments, documentation for claimed tax credits or deductions, and updates on marital status or dependents for your tax records.