2013 Tax Preparation Checklist

1.  Important Tax Documents

• W2 and 1099-MISC
• Unemployment 1099-G
• Pension 1099-R
• Social Security 1099-SSA
• State and Local Income Tax Refunds 1099-G
• Gambling and Lottery Winnings W2-G
• Investment Income and Stock Transactions 1099-INT, 1099-DIV, 1099-B
• Business and Partnership Income K-1
• Mortgage Interest 1098-Mortgage Interest
• Student Loan Interest 1098-E
• College Tuition 1098-T
• HSA / MSA Distributions 1099-SA

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2. Miscellaneous Income

• Alimony Received
• Jury Duty Pay

3. Dependents

• Full Name, SSN, Date of Birth, and number of months living with you
• Statement from daycare showing daycare name, address, tax id#, and amount you paid
• Copy of divorce decree section which spells out which parent claims the child each year
• Proof of residency if the child is not your son or daughter

4. Divorce and Separation

• Copy of divorce decree section which spells out which parent claims the child each year
• Copy of divorce decree section related to filing status which determines if you will be: Married Filing Jointly,  Married Filing Separately,  Head of Household, or Single

• Copy of divorce decree section related to tax deductions including:

How Itemized Deductions are to be split

Whether you are required to Itemize or required to take Standard Deduction

• Copy of divorce decree section related to retirement distribution settlements
• If you paid or received alimony provide the amount and SSN of the other party

5. College Expenses

• Tuition and Fees typically on 1098-T
• Books and Supplies not on 1098-T
• Computers and Laptops
• Receipt of Scholarships and Fellowships
• Student Loan Interest Paid typically on 1098-E

6. Tax Credits

• Earned Income Credit – determined based on income and dependents
• Daycare Credit – determined based on income and amount paid
• Child Tax Credit – determined based on age and dependency status of child
• Retirement Savings – determined based on income and previous distributions
• Education Credits –determined based on income, expenses paid, dependency (if for child)

7. Loan Interest

• Home Mortgage Interest typically on 1098 Form
• Interest on second home
• Automobile Loan interest – deductible in some instances
• Investment Interest – normally provided by broker but ask
• Business Interest – see the Small Business Tax Checklist

8. Meals and Entertainment

• Provide receipts for meals and entertainment related to your job or work
• Business Meals and Entertainment – see the Small Business Tax Checklist

9. Automobile

• If you have job or work related use of your automobile please provide:- Mileage Log or some other record of the number of miles driven for work
  – Personal Property Tax paid for the vehicle
  – Loan Interest paid for the vehicle
  – Amount of reimbursement that you received

• Always provide the Year, Make, Model, Year-ending odometer reading, Purchase Date, and Purchase Amount of every auto that you use for work

• If you used your vehicle in relation to medical treatment please provide the number of miles driven for medical treatment
• If you used your vehicle in relation to charitable activity please provide the number of miles driven for charitable purposes
• If you previously used the Actual Expense Method or purchased a new auto please provide amounts paid for: gas, insurance, repairs, loan interest, license registration and title fees, sales tax, and property tax.

• If you donated your vehicle to a charity please provide:
  – Year, Make, Model, VIN#, Odometer Reading
  – Date of Donation
  – Name, Address, Tax ID# of charity
  – Fair Market Value of vehicle when donated
  – Did charity keep or sell the vehicle?
  – What was sale price if the charity sold the vehicle?
  – 1099-C if you received it

10. Travel

• If you traveled for work please provide receipts for:
  –  Transportation-Airfare, Trains, Rental Cars, Taxis
  – Rental Car Fuel
  – Lodging
  – Laundry / Dry Cleaning
  – Fees
  – Amount you were reimbursed

• Business Travel – see the Small Business Tax Checklist

11. Telephone and Internet

• If you use your cell phone, home phone, or internet connection for work please provide:
  – % of time used for work
  – Amount paid for monthly phone service
  – Cost of equipment purchases

12. Insurance

• Insurance is not always deductible but ask your tax preparer whether you can deduct:
  – Health Insurance – paid out of pocket
  – Auto Insurance
  – Life Insurance
  – Homeowners/Renters Insurance
  – Disability Insurance

13. Home Office

• If you used a portion of your home for work please ask your tax preparer if you quality for a home office deduction.  If you qualify you will be asked to provide:
  – Rent Paid
  – Mortgage Interest typically on 1098
  – Real Estate Tax
  – Homeowners/Renters Insurance
  – Utilities (Electric, Gas, Water, Sewer, Trash, Fax or Second Phone, Internet)
  – Repairs – General
  – Repairs – Specific to the office
  – Maintenance (Lawncare, Snow Removel, Pest Treatment, Cleaning)
  – Association Dues
  – Furniture and/or equipment used in home office

14. Medical Expenses

• Medical expenses typically have to exceed a certain dollar threshold before they become deductible.  Discuss with tax preparer before compiling these expenses.  You may be asked to provide:
  – Medical Insurance
  – Long Term Care Insurance
  – Dental Insurance
  – Fees and Copays paid to Doctors and Hospitals
  – Prescription Medicine
  – Eyeglasses or contacts
  – Dental Care
  – Ambulance Fees
  – Certain expenses for home alterations
  – Vehicle Conversions
  – Reimbursements Received for medical expenses
  – Mileage driven for medical care

15. Homeowner / Renter Information

• Mortgage Interest typically on 1098
• Real Estate Tax paid during the tax year
• Home office expenses
• Moving expenses
• Provide closing statements for the sale or purchase of any home during the tax year

16. Tax Payments

• Real Estate Tax paid during the tax year
• Personal Property Tax paid during the tax year
• Sales Tax paid on major purchases (car, boat, RV, etc.)
• IRS, State, and Local tax payments and estimates paid during the tax year

17. Retirement Contributions

• Traditional or Roth IRA, Keogh, etc.
• Discuss with your tax preparer whether you can still contribute for previous tax year

18. Gambling Winnings and Losses

• Provide W2-G for winnings
• Provide statements supporting losses

19. Miscellaneous Deductions

• Safe Deposit Box Fees
• Investment Fees
• Tax Preparation Costs
• Adoption Expenses
• Casualty and Theft Losses
• Legal Fees

20. Work Expenses

• Union Dues
• Teachers deduction
• Training, Education, and License Fees
• Automobile Expenses
• Telephone and Internet Expenses
• Meals and Entertainment
• Gifts
• Travel Expenses
• Home Office
• Provide amounts you received as reimbursement

21. Charitable Donations

• For Cash Donations provide the date paid and amount
• For Cash Donations over $250 provide a receipt from the charity
• For Non-Cash Donations provide:
  – Name, Address, Tax ID# of charity
  – Date of Donation
  – Description of donated items
  – Condition and cost of donated items
  – For Automobile Donations provide:
  – Year, Make, Model, VIN#, Odometer Reading
  – Date of Donation
  – Name, Address, Tax ID# of charity
  – Fair Market Value of vehicle when donated
  – Did charity keep or sell the vehicle?
  – What was sale price if the charity sold the vehicle?
  – 1099-C if you received it