Individual Tax Prep Checklist

SHARE

We’ve put together a checklist of everything you may need to make this year’s taxes fast and easy.

Information and Documents

Personal Information

Banking and direct deposit information

  • If there have been any changes to this information since last year, please let us know the updated bank information.

  • Marital status

  • If there have been any changes to your martial status since last year, please let us know the change and date of the change.

  • Address

  • If there have been any changes to this information since last year, please let us know the updated address information.

  • Social security number (SSN)

  • If filing jointly, your partner’s name and social security number

  • List of dependents, including their name, date of birth, and SSN numbers

  • If you have been a victim of identity theft, your issued 6-digit IRS identity code

Health and Child Care

  • Childcare provider name, address, SSN or Employer Identification Number (EIN), and the amount paid to them

  • List of major unreimbursed healthcare expenses, including amounts paid to assisted living facilities and health aides

Income & Debt 

  • W2s and 1099-NECs

  • Income from investments (1099-B, 1099-DIV, and summary brokerage statements)

  • Cancellation of debt amount, including 1099-C

Business & Investment Properties

  • Sale or Purchase of business and real estate information

Property

  • Year-end mortgage interest amount for your primary and any investment properties that you own

  • Home equity line of credit (HELOC) interest amount for primary and investment properties owned

  • Settlement sheet for any real estate that’s been sold, purchased, or refinanced

Charitable Contributions

  • Detailed information for non-cash contribution(s) that were over $500

  • Formal appraisal report prepared by a qualified, licensed appraiser for non-cash contributions that were over $5000

  • Cash/check contributions. Please include documentation for any amount great than $250

Casualty & Loss

  • Loss or theft information

  • If applicable, any insurance proceeds related to the loss event

Large Purchases

  • Sales tax paid on large purchases, such as motor vehicles or boats, during the past year

Retirement

  • Detailed information about contributions and year-end balances for Roth or traditional individual retirement accounts (IRA)

  • IRA, Keogh, Savings Incentive Match Plan (SIMPLE), or Simplified Employee Pension Plan (SEP) account withdrawal information, including amounts contributed directly to qualified charitable organizations

Education

  • Post-secondary education expenses (tuition) and qualified-related expenses

  • Year-end statements from qualified state tuition plan contributions (e.g., 529 plan)

  • Any 1099-Qs received for tuition plan distributions

Foreign Assets

  • Foreign investment income information

  • Foreign bank account detailed information, including the highest balance during the year

  • Foreign income tax return

Environmental

  • Installation or purchase invoice for energy-efficient purchased for your personal residence during the year

  • Purchase invoice for alternative technology vehicle (plug-in electric drive motor vehicles)

IRS Notifications

  • Copy of notice from IRS or other taxing authority of any changes in the prior year’s tax returns

Gifts & Trusts

  • List of gifts that aggregate more than $16,000 with each recipient’s name

  • Copy of trust documents if a trust was established or changed during the year

Cryptocurrency

  • State whether or not you purchased or sold any cryptocurrencies in the last year, if yes, be able to provide detailed information regarding the transactions

Previous
Previous

The Secure 2.0 Act and What it Means for Retirement Accounts

Next
Next

When are Gift & Estate Taxes due?