Individual Tax Preparation

What to bring to your individual tax preparation appointment:

Planning

  • W-2s from all jobs
  • Forms 1099 from all investments and bank accounts. (Be sure you have included every account but note that interest income less than $10 in any one account does not have to be reported.)
  • Details for any investment property, including stocks, bonds, and real estate you sold during the year. In addition to the type of property sold, you will need the purchase date, number of units/acres purchased, purchase price, sale date, number of units, acres sold, and the sales price. (If you sold real estate, please provide a copy of the HUD statement or closing statement.)
  • Details for other sources of income, such as rents, royalties, trusts, estates, farming, unemployment compensation, Social Security benefits, board of directors’ compensation, and any other income received during the year.
  • Date and amount of contributions made to an individual retirement account (IRA), Roth IRA, simplified employee pension (SEP) or Keogh, the name of the institution maintaining the plan, and your account number.
  • Property tax receipts. For farmers, please bring the actual real estate tax bills for both the prior and current years. (This is necessary to calculate farmland credits.)
  • Forms 1098 reporting mortgage interest.
  • If you started a business, please see the business checklist.
  • Form K-1s from any estate(s) and partnership(s), including LLCs, trusts, and S-Corporations of which you are an investor or beneficiary. Contact the respective party if missing any, as these often do not arrive until March or April.
  • Summary and/or receipts for medical expenses.
  • Records of gambling winnings and losses. To offset reportable winnings, you must have an accurate log of expenses and losses, including amounts, dates, and locations.
  • Itemized record of charitable gifts and receipts.
  • Copy of your prior three years’ tax returns (new clients only).
  • Dates of birth, social security numbers, and contact information for all family members (first appointment only).
  • Any notices you have received from the IRS and/or state Dept. of Revenue (if applicable).
  • List of financial goals and questions, if seeking counsel.
  • Any other documents you are uncertain about as to their applicability.
Note: Most of the items above are easier to collect than you may think. In fact, many of them will come to you in envelopes marked with “Important Tax Document Enclosed”.

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