Money Life Network
Tax Documents You May Need
Posted on March 5, 2008 |
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Tax time is here. These are some documents you’ll need to have for your taxes (found on About.com):
Income Documents:
- W-2’s - This shows taxable wages and any employer tax withholdings
- 1099’s - Reports various income other than wages, salaries, and tips
- Proof of jury duty pay
- Proof of alimony received
- Social Security statement (1099-SSA)
- Dividend and interest statements (1099-DIV and 1099-INT)
- Brokerage statements (1099-B) as well as documents showing when you bought and sold your investments
- K-1 statements - Reports profits from partnerships, trusts, and small businesses
- Record of income and expenses for ant rental properties you own
- Record of income and expenses for any self- employment
Tax Deduction Documents:
- Moving expenses - Documents detailing
- Education expenses (college tuition)
- Day care, child care or adult care expense summaries
- IRA contributions (traditional, SEP, and rollover - Roth is after-tax contributions so it doesn’t count)
- 529 contributions
- Student loan interest paid (1099-E)
- Health care expenses
- Real estate taxes
- Motor vehicle registration
- Mortgage interest paid (1098)
- Gifts to charity - The laws are cracking down so you need receipts for all charities you are deducting
- Tax preparation fees from the previous year
- Job related expenses (union dues, uniforms, job education)
- Loss of property due to casualty or theft
- Gambling losses - Losses must be greater than winnings and must be documented
You can find a list and definitions of US Tax Forms here.
These may not all apply to your situation. Make sure you contact a tax professional with any questions.
Keep in mind that for many accounts with online access you will need to download your tax documents (such as an online ING Direct account). Others, such as your W-2 from an employer, may be mailed to you.
I hope this helps. Good luck on your taxes!
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