December 29, 2018

Tax Preparation Checklist

Tax Preparation Checklist

Tax season offers plenty of challenges especially when it comes to gathering up all that documentation that needs to be handy while working on your tax return.

Fortunately, a tax preparation checklist can make light of the situation and help you discover what’s needed to proceed when ready.

Being prepared for tax season will help you expedite your tax return preparation process, and quite possibly reduce your taxes.

Call or make an appointment today.

IPS Accounting Services LLC

(843) 637-7100

Gathering up all the documents needed to prepare and file your tax return with ease.

Our checklists are provided to help you collect the most common items that are generally required when you are filing tax returns or gathering up documentation to supply to your personal tax professional.

General Information

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

___ Child Care Expenses for 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 Expenses for You and Your Spouse

___ Prior Year Adjusted Gross Income (AGI) & Personal Identification

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

___ Social Security Numbers for You and Your Spouse

General Taxable Income

___ Alimony Received or Paid

___ Dividend Income Statements: Form 1099-DIV

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

___ Miscellaneous Income: Form 1099-MISC

___ Sales of Real Estate: Form 1099-S

___ Sales of Stock, Land, etc.: Form 1099-B

___ State Tax Refunds: Form 1099-G

___ Unemployment Compensation Received

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

Retirement Income

___ Railroad Retirement & Social Security Income: Form SSA-1099

___ Retirement Income: Form 1099-R

Business Income

___ Business Income and Expenses

___ Farm Income and Expenses

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

___ Rental Income and Expenses

___ Tax Deductible Miles Traveled for Business Purposes

Tax Credits Checklist

___ Adoption Expense Information

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

___ First Time Home Buyer Tax Credit

___ Foreign Taxes paid

Expense and Tax Deduction Checklist

___ Amount Paid to Professional Preparer Last Year

___ Casualty and Theft Losses

___ Charitable Cash Contributions

___ Doctor and Dentist Payments

___ Fair Market Value of Non-cash Contributions to Charities

___ Home Mortgage Interest from Form 1098

___ Home Second Mortgage Interest Paid

___ Hospital and Nurse Payments

___ Investment Expenses

___ IRA Contributions

___ Job-hunting Expenses

___ Last Year’s Tax Preparation Fee

___ Medical Expenses for the Family

___ Medical Insurance Paid

___ Miles Traveled for Volunteer Purposes

___ Miles Traveled for Medical Purposes

___ Miles Traveled Related to Your Job

___ Moving Expenses

___ Personal Property Taxes Paid

___ Prescription Medicines and Drugs

___ Real Estate Taxes Paid

___ State Taxes Paid with Last Year’s Return (if itemized)

___ Student Loan Interest Paid

___ Tax Deductible Unreimbursed Expenses Related to Your Job

___ Union and Professional Dues

___ Unreimbursed Expenses Related to Volunteer Work

Tax Estimate Payments Checklist

___ Estimated Tax Payments Made with ES Vouchers

___ Last Year’s Tax Return Overpayment Applied to This Year

___ Off Highway Fuel Taxes Paid

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