Wednesday, January 13, 2016

2015 Personal Tax Prep Checklist

LAE Business Services, Inc.
373 Smithtown Bypass Suite 134, Hauppauge, NY 11788
P : 631-793-1292                                        F: 631-382-8334
www.laebusiness.com            Email: info@laebusiness.com


Personal Information
  • Your social security number or tax ID number
  • Your spouse’s full name and social security number or tax ID number
  • Amount of any alimony paid and ex-spouse’s full name and social security number
  • Your tax returns for the previous three years. Your Tax Professional can check them for accuracy
Information About Other People Who May Belong on Your Return
  • Dates of birth and social security numbers or tax ID numbers
  • Childcare records (including the provider’s tax ID number) if applicable<l/i>
  • Income 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)

Education Payments
  • Forms 1098-T from educational institutions
  • Receipts that itemize qualified educational expenses
  • Records of any scholarships or fellowships you receivedForm1098-E if you paid student loan interest
Employee Information
  • Forms W-2
Self-Employment Information
  • Forms 1099-MISC, Schedules K-1, income records to verify amounts not reported on 1099s
  • 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
Business Use of Vehicle Information
  • Log showing total miles driven for the year (or beginning/ending odometer readings), total business miles driven for the year (other than commuting), and the business purpose of the mileage
  • Amount of parking and tolls paid
  • If you want to claim actual expenses, receipts or totals for gas, oil, car washes, licenses, personal property tax, lease or interest expense, etc.
Rental Property Income
  • Records of income and expenses
  • Rental asset information (cost, date placed in service, etc.) for depreciation
Retirement Income
  • Pension/IRA/annuity income (1099-R)
  • Social security/RRB income (1099-SSA, RRB-1099)
Savings and Investments
  • 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)      
Other Income
  • Unemployment, state tax refund (1099-G)
  • Gambling income (W-2G or records showing income, as well as expense records)
  • Amount of any alimony received
  • Health Savings Account and long-term care reimbursements (1099-SA or 1099-LTC)
  • Jury duty records
  • Hobby income and expenses
  • Prizes and awards
  • Other 1099
Affordable Care Act
  • Form 1095-A if you enrolled in an insured plan through the Marketplace (Exchange)
  • Marketplace exemption certificate if you applied for and received an exemption from the Marketplace (Exchange)
Other Deductions and Credits
  • Receipts for classroom expenses (for educators in grades K-12)
  • Form 5498-SA showing HSA contributions
  • Record of moving expenses not reimbursed by employer
  • Forms 1098 or other mortgage interest statements
  • Amount of state/local income tax paid (other than wage withholding), or amount of state and local sales tax paid
  • Real estate and personal property tax records
  • Invoice showing amount of vehicle sales tax paid
  • Cash amounts donated to houses of worship, schools, other charitable organizations
  • Records of non-cash charitable donations      
  •  Amounts paid for healthcare insurance and to doctors, dentists, hospitals
  • Amounts of miles driven for charitable or medical purposes
  • Expenses related to your investments
  • Amount paid for preparation of last year’s tax return
  • Employment-related expenses (dues, publications, tools, uniform cost and cleaning, travel)
  • Job-hunting expenses
  • Receipts for energy-saving home improvements
  • Record of estimated tax payments made
IRA Information
  • Form 5498 showing IRA contributions
  • Traditional IRA basis
If you were affected by a federally declared disaster
  • City/county you lived/worked/had property in
  • Records to support property losses (appraisal, clean up costs, etc.)
  • Records of rebuilding/repair costs
  • Insurance reimbursements/claims to be paid
  • FEMA assistance information
  • Check FEMA site to see if my county has been declared a federal disaster area