A complete Tax Preparation Documents Checklist

Tax Preparation involves local and state or federal tax returns. Tax advisory services analyze financial and tax issues and provide solutions. They also make recommendations for individuals and businesses, addressing taxation concerns.

To file your tax return, you’ll need specific data and supporting paperwork, regardless of whether you work with an expert or handle it yourself.

Although most filers share similar preparation concerns, each person’s taxes are unique.

So, this checklist will help you get ready. Ready to modify the tax preparation checklist to fit your needs?

Before you start

Please review the following checklist before starting to prepare your income tax return. You won’t fit into every category, so choose the ones that do and ensure you have the relevant data.

Moreover, preparing your tax return using TurboTax software can save you significant time by organizing your information beforehand.

Before you start tax preparation

  • Download and print a tax checklist.
  • Keep the checklist in a file folder or attach it.
  • Check tax documents as they arrive or locate them.
  • Remove non-applicable items from the list.
  • Include unavailability information like bank routing and direct deposit account numbers.
  • Use a financial tracking program or app to print or download a tax year transaction report.
  • Highlight necessary information for tax return preparation or make notes.

Personal information

To pay taxes, provide personal information, including the bank account where you want your tax refund to be deposited.

  • Full name
  • Birth date
  • Social security/tax ID number
  • Home address
  • Previous tax records
  • Bank account details
  • IP PIN, if applicable

If you are married and filing a joint return with your spouse, you will also need this information for them.

Social Security details

The complete names and Social Security numbers, or tax identification numbers, of you and your spouse. Your debts are among the most crucial details that a CPA, tax preparer, or tax preparation software will want to file your tax return.

Tax Return Error Reminder

  • It Provides Social Security cards for all tax return-included individuals.
  • It Provides government-issued identification with a photograph, such as a driver’s license, passport, or state identification card.

Income information

It Depends on your income sources; you may require various documents. However, some common ones include:

  • W-2 Information Overview
  • Employer-provided W-2 information.
  • 1099 forms: 1099-G, 1099-NEC, 1099-MISC, 1099-INT, 1099-DIV, 1099-B, 1000-G.
  • W-2G forms for gambling activities.
  • SSA-1099 form for reporting social security benefits.
  • Rental income.
  • Jury duty records.

Moreover, Forms should be received by Jan. 31. If they are not received, contact a business or government entity before filing a tax return, as IRS penalties may apply.

Dependent information

If applicable, you must provide the information of any dependents, such as children or elderly parents, you might support.

  • Name, birth date
  • Social security/tax ID number
  • Income information of dependent or adult

Receipts for expenses

You should provide your tax preparer with the receipts for any costs you wish to deduct from your business income taxes. Medical expenses are among personal costs that are tax deductible.

Medical bills.

  • Charitable contributions.
  • IRA contributions.
  • Certain education expenses.

Many business expenses are also tax deductible if you work for yourself. Ensure you have all your invoices, receipts, medical bills, and mileage records to track your business and personal spending.

Additionally, keeping a copy of your most recent tax return handy is a good idea.

Moreover, your tax return provides a guide to your average income and deductions and highlights any significant changes from the previous year. It also identifies potential differences between your returns.

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