Tax Preparation Checklists

1. Gather Personal Information

• Social Security Numbers (SSNs):
• Dates of Birth: For yourself, your spouse, and all dependents.
• Identification:
• Bank Account Information:

2. Compile Income Documents

• W-2 Forms: From all employers.
• 1099 Forms:
• Other Income Sources:

3. Gather Deduction and Credit Documentation

• Charitable Contributions: Receipts or bank statements for donations.
• Medical Expenses:
• Mortgage Interest Statement (Form 1098):
• Property Tax Statements:
• State and Local Tax Payments: (Records of income taxes paid to your state and local governments)
• Education Expenses:
• Childcare Expenses:
• Dependent Care Expenses: (If applicable)
• Business Expenses (if self-employed):

4. Gather Retirement Information

• 401(k) Contribution Statements: From your employer.
• IRA Contribution Receipts: If you contributed to a Traditional or Roth IRA.
• Pension/Annuity Statements:

5. Gather Information for Credits

• Child Tax Credit:
• Earned Income Tax Credit (EITC):
• Education Credits: (American Opportunity Credit, Lifetime Learning Credit)
• Child and Dependent Care Credit:

6. Gather Other Relevant Information

• Estimated Tax Payments: Records of any estimated tax payments made throughout the year.
• Prior Year's Tax Return: For reference and to compare to your current year's situation.

7. Organize and Secure Your Documents

• Create a dedicated folder or file: To store all your tax documents in a safe and organized manner.
• Make copies of all important documents: To ensure you have backups in case of loss or damage.
• Consider using a secure cloud storage service: To store electronic copies of your tax documents.

8. Choose Your Tax Preparation Method

• Do-It-Yourself (DIY):
• Tax Professional:

9. Review and File Your Tax Return

• Review your tax return carefully: Before submitting it to ensure accuracy.
• File electronically: For faster processing and to reduce the risk of errors.
• Keep copies of all your tax documents: For future reference.