Gathering Tax Documents On Time Saves 11th Hour Rush
You might have been through the 11th hour rush last year for collecting your IRs tax documents. This year I have made your job simpler. Here is the list of vital documents the you’ll need for filing the taxes –
These documents will be needed for your Tax deduction
• Health and medical expenses such as medicines, health insurance, doctors, eyecare, dentists, etc
• Taxes for your real estate
• Registration of your motor vehicle
• The interest paid (1098) on your mortgage
• Charities and gifts
• Tax preparation fees the previous year
• expenses related to Job such as job education, union dues, uniforms, etc
• Property loss due to theft or casualty
• Losses in the gambling
Income documents
• 1099s
• W-2s
• Jury duty pay proof
• Proof for the received alimony
• Statement Social Security (1099-SSA)
• Interest statements and dividend (1099-INT and 1099-DIV)
• Retirement distributions (1099-R)
• Statements for your brokerage (1099-B)
• K-1 statements stating the profits from trusts, partnerships and small businesses
• Expenses and income record from your rental property
• Income and expenses record from your self-employment
Other tax documents
• Moving expenses details
• Educational expenses details such as college tuition, etc
• Expenses of your child care, day care, or adult day care,
• Contributions for IRA such as SEP, traditional or rollovers
• Interest paid for student loan (1098-E)
• bought or sold property HUD-1 Escrow statement