Tax Preparation Checklist
This checklist is provided to you to assist with preparing your taxes thoroughly and accurately. Please adhere to the check as needed.
Personal Data
o Prior Year Tax Return
o Driving License or State ID
o Social Security Numbers (including spouse and children)
o Childcare provider tax I.D. or Social Security Number and Address
o IRS Letter 6419 Child Tax Credit (TY 2021 only)
o IRS Letter 6475 third stimulus payment (TY 2021 only)
Income Data
o W-2 forms
o Pensions and annuities
o Partnership and trust income
o Alimony received
o Jury Duty Pay
o State and local income tax refund
o Scholarships and fellowships
o Prizes and awards
o Gambling and lottery winnings
Financial Assets and Liabilities
o Interest income statements (form 1099-INT & 1099-OID)
o Dividend Income statements (form 1099-DN)
o Tax Refunds and unemployment compensation (form 1099-G)
o Proceeds from broker transactions (form 1099-B)
o Miscellaneous income (form 1099-MISC)
o Retirement plan distribution (form 1099-R)
o Student loan interest paid
o Early withdrawal penalties on CD’s
Home and Rental Property Data
o Mortgage interest (form 1098)
o Home equity loan interest
o Real estate taxes paid
o Sale of your home or other real estate (form 1099-S)
o Rental property income
o Rental property expenses
Self-Employment Data
o K-1’s on all partnerships
o Receipts and documentation for all business related expenses
o Farm Income
o Auto mileage log
o Home office square footage
Expense Documentation
o Charitable donations (2020 one time $300 credit for cash donation)
o Unreimbursed business of volunteer work expenses
o Child care expenses
o Alimony paid
o Tax Return preparation fees
o Investment expenses
o Education expenses
o Job-hunting expenses
o Adoption expenses
o Moving expenses
o Medical expenses
Deductions
o IRA, SEP, SIMPLE and other retirement plan contributions
o Casualty and theft losses
o Medical savings accounts
o Energy Credit Expenditures
Year-end Items Needed for Tax Return Preparation
Business or Schedule C or 1120 Filers
o Accountants Review Copy of your QuickBooks File (or your manual check registers and records if not using QuickBooks)
o Year-end financial statements (income or profit/loss statements)
o Year-end Bank Statements for all open accounts, reconciled to books
o Year-end credit card statements for all open accounts, reconciled to books
o Year-end Loan Statements for all loans outstanding during year
o Last Four Quarterly Sales Tax Returns filed (or last one if Annual filer)
Payroll (If applicable):
o 941’s and NYS-45’s for all Four Quarters
o 940
o W-3
o Any notices received
o Invoices for any large assets purchased
All year-end tax documents (1099’s etc.)
Any IRS or State notices received. Auto Mileage (if applicable):
o Description of each vehicle used (Make & Year)
o Total Mileage for the year (all miles including personal)
o Number of miles that are Business Miles for the year.
Business Use of Home (if applicable):
o Total Sq. footage of home
o Sq. footage of space dedicated to office use only
o Mortgage Interest and Taxes (or Rent) paid for the year
o Utilities (not including phone)
o Repairs and maintenance
o Trash service
o Insurance
