IRS Forms to Look For

W2 Form: This is the one from any employer that you worked for last year. This should be postmarked or available for download by Jan 31st. No, we can’t tell you if you have them all…

1098 Form: From your mortgage or home equity company. Reports your interest paid on your loan. This may also report any Mortgage Insurance Premiums. They may not always be deductible though. This form may also have your escrowed property taxes reported, but not always.

1099-A: If you have had a property foreclosed. The “A” stands for abandoned.

1099-B: From your investment company, shows the sales or exchanges of stock, mutual funds or bonds. This form is not due to be released until February 15th, and some firms are notorious for sending several amended forms right up thru April 15th.

1099-C: Cancellation of Debt on credit cards, loans and sometimes mortgages.

1099-Div: Reports dividends, capital gain distributions and foreign tax paid. You can find the release date of most of these forms on your brokerage website. They may be as late as the end of February, so beware.

1099-G: Reports payments by a government agency, like your Unemployment benefits or State Tax Refunds from the prior year.

1099-INT: From your bank or investment company, reporting any interest that you earned during the year. If under $10, you probably won’t receive a form.

1099-K: A new form in 2012 that reports payment you received by a third-party payment processor. This can be your merchant service provider, Square, Intuit and even Paypal.

1099-MISC: This is a multi-use form that reports Rents, Prizes, Self-Employed Payments, Spiffs, Medical Provider Payments and other miscellaneous payments. There are many treatments to this kind of income, so please be sure to bring this form to our attention as well as any expenses yu may have to offset this income.

1099-Q: Reports distributions from a qualified 529 Plan. May not be taxable, but has to be reported properly anyway.

1099-R: Reports income from a retirement plan, life insurance policy, or annuity.

1099-SA: Reports a distribution from a Health Savings Account, again may not be taxable but still have to report it.

What to Bring

All Taxpayers

  • Last Year’s Tax Returns
  • Birthdate’s and SS numbers for Dependents
  • W-2’s from all Employers
  • W-2G’s from Gambling Income
  • 1099-MISC for Sub-Contracting
  • 1099-INT or DIV for Interest and Dividends
  • 1099-B for Investment Accounts/Sale of Stock
  • 1099-A or C for Debt Cancellation or Foreclosure
  • 1099-G for Unemployment Benefits
  • 1099-R for IRA or Pension Distributions
  • Purchase Records for Stock Sold in 2013
  • Form SSA for Social Security Benefits
  • K1 Forms from Partnerships, Trusts or S-Corps
  • Employee Expenses (more than 2% of income)
  • Rental Income and Expenses including History of Depreciation, if new client
  • Jury Duty Pay
  • Sole Proprietorship/DBA Income/Expense (See Separate List)
  • Educators Deductions
  • Alimony Paid or Received
  • IRA or SEP or Simple Plan Contributions
  • Tuition and Expense Paid for College
  • Student Loan Interest Paid
  • Moving Expenses (>10% of income)
  • Medical Expenses (over 7.5% of income)
  • Property Tax Paid
  • Mortgage /Equity Loan Interest Paid
  • Interest on a Boat/Cottage/Camper
  • Sales Tax Paid/ Auto/ Boat / Plane/ Camper
  • Closing Statements for Home Purchase/Sale
  • Charitable Contributions – Cash/ Check
  • Non-Cash Contribution – Purchase Value
  • Daycare or Babysitting Expenses (w/provider information, name, address, EIN/SSN)
  • Adoption Expenses
  • Estimate Tax Payments

DBA and Contractor Income / Expenses (Schedule C)

  • Gross Income (without sales tax, money actually collected, not just billed)
  • Beginning and Ending Inventory
  • Inventory Purchases
  • Personal Items removed from Inventory
  • Business interest earned (1099 forms)
  • Accounting Expense
  • Advertising Expense
  • Auto Expense (mileage or actual costs)
  • Bank or Credit Fees
  • Commission/ Contractors Paid
  • Depreciation Records and Costs of Assets added in 2012, with date, amount and cost
  • Dues and Subscriptions
  • Record of any Assets Sold
  • Insurance Expense, Liability, Comp, DBL, Bonds
  • Interest on Loans or Credit Cards used only for Business Purchases
  • Janitorial Expense
  • Legal Expenses
  • Office Expenses
  • Permits and Licenses
  • Rent Expense
  • Repairs/Maintenance
  • Supply Expenses
  • Taxes Paid
  • Utilities Expense
  • Wages Pain (including payroll records and returns)
  • Office in Home % and expenses if applicable

Rental Property Income/Expenses (Sch. E)

  • Incomer received from all sources, by property
  • Advertising
  • Administrative Costs
  • Travel (mileage)
  • Insurance
  • Interest
  • Taxes
  • Repairs and Maintenance
  • Utilities
  • Water
  • Depreciation Records, prior years and current year assets purchased with dates and amounts