Individual Tax Preparation Checklist

Next Level Tax Carrollton > Individual Tax Preparation Checklist

Individual Tax Preparation Checklist

Use the checklist below to find the tax documents and forms you’ll need to get started.

Personal Information

Tax Identification Numbers are mandatory items on your checklist. All taxpayers will need the following to do their taxes.

  • Your social security number or tax ID number
  • Your spouse’s full name, social security number or tax ID number, and date of birth
  • Information about your stimulus payment — also known as an economic impact payment (EIP) — if applicable — you may have IRS Notice 1444 or other records showing your EIP amount
  • Identity Protection PIN, if one has been issued to you, your spouse, or your dependent by the IRS
  • Routing and account numbers to receive your refund by direct deposit or pay your balance due if you choose

Dependent(s) Information

Parents and caregivers should gather this information as they review what they need to file their taxes.

  • Dates of birth and social security numbers or tax ID numbers
  • Childcare records (including the provider’s tax ID number) if applicable
  • Income of dependents and of other adults in your home
  • Form 8332 showing that the child’s custodial parent is releasing their right to claim a child to you, the noncustodial parent (if applicable)

Sources of Income

Employed

Forms W-2

Unemployed

Unemployment (1099-G)

Self-Employed

Forms 1099, Schedules K-1, income records to verify amounts not reported on 1099-MISC or new 1099-NEC

Records of all expenses — check registers or credit card statements, and receipts

Business-use asset information (cost, date placed in service, etc.) for depreciation

Office in home information, if applicable

Record of estimated tax payments made (Form 1040–ES)

Rental Income

Records of income and expenses

Rental asset information (cost, date placed in service, etc.) for depreciation

Record of estimated tax payments made (Form 1040–ES)

Retirement Income

Pension/IRA/annuity income (1099-R)

Traditional IRA basis (i.e., amounts you contributed to the IRA that were already taxed)

Social security/RRB income (SSA-1099, RRB-1099)

Savings & Investments or Dividends

Interest, dividend income (1099-INT, 1099-OID, 1099-DIV)

Income from sales of stock or other property (1099-B, 1099-S)

Dates of acquisition and records of your cost or other basis in property you sold (if basis is not reported on 1099-B)

Health Savings Account and long-term care reimbursements (1099-SA or 1099-LTC)

Expenses related to your investments

Record of estimated tax payments made (Form 1040–ES)

Transactions involving cryptocurrency (Virtual currency)

Other Income & Losses

IGambling income (W-2G or records showing income, as well as expense records)

Jury duty records

Hobby income and expenses

Prizes and awards

Trust income

Royalty Income 1099–MISC

Any other 1099s received

Record of alimony paid/received with ex-spouse’s name and SSN

State tax refund

Types of Deductions

The types of deductions you can take depend a lot on your life situation. It’s likely you won’t need all of the documents listed below for your taxes.

Home Ownership

Forms 1098 or other mortgage interest statements

Real estate and personal property tax records

Receipts for energy-saving home improvements (e.g., solar panels, solar water heater)

All other 1098 series forms

Charitable Donations

Cash amounts donated to houses of worship, schools, other charitable organizations

Records of non-cash charitable donations

Amounts of miles driven for charitable or medical purposes

Medical Expenses

Amounts paid for healthcare, insurance, and to doctors, dentists, and hospitals

Childcare Expenses

Fees paid to a licensed day care center or family day care for care of an infant or preschooler

Amounts paid to a baby-sitter or provider care of your child under age 13 while you work

Expenses paid through a dependent care flexible spending account at work

Health Insurance

Form 1095-A if you enrolled in an insurance plan through the Marketplace (Exchange)

Educational Expenses

Forms 1098-T from educational institutions

Receipts that itemize qualified educational expenses

Records of any scholarships or fellowships you received

Form 1098-E if you paid student loan interest

K-12 Educator Expenses

Receipts for classroom expenses (for educators in grades K-12)

State & Local Taxes

Amount of state and local income or sales tax paid (other than wage withholding)

Invoice showing amount of vehicle sales tax paid and / or personal property tax on vehicles

Retirement & Other Savings

Form 5498-SA showing HSA contributions

Form 5498 showing IRA contributions

All other 5498 series forms (5498-QA, 5498-ESA)