Tax Documents Checklist: How to Win Big This Tax Season

How to Win at Filing Taxes: Start Simple With Personal Information

Want to make tax season a breeze? Start with the basics.

No matter what your tax prep journey looks like, you’re going to need personal information. Here’s how to find and organize it:

1. Grab a File Folder

This will be your “tax preparation headquarters.” You’ll keep just about everything in here, so give it a permanent home in your desk or file cabinet.  As tax forms roll in you can also stick them in this folder for easy access when you get ready to file.

2. Track Down Important Info

You’ve probably memorized your Social Security number and (hopefully) your date of birth. But there’s plenty of other stuff you’ll need to file your taxes, and these details might be scattered between different documents. 

Here’s what you should look for:

• Social Security number (SSN): This is usually on a Social Security card. Remember, you’ll need your spouse’s SSN and all your dependents’, too.
• Government-issued ID: This can be a driver’s license or a state ID card. In some cases, you might not need this type of identification, but some states require the information when you e-file.
• Tax information: It’s important to keep track of which taxes you paid and in what amounts so you don’t leave any money on the table. Track down documents showing taxes you paid that may impact your tax outcome like estimated taxes paid that should apply to this tax year’s filing.
• Account information: To make sure there are no delays in getting your tax refund, you’ll want to have the correct routing, direct deposit, and account numbers ready to go.

3. Stay Organized

Once you have the documents you need for yourself, your spouse, and your dependents, put them in your new file folder. You may want to group them together with a tab or paperclip labeled “personal documents” to keep things tidy.

Next Up, Grab Your Income Info

It wouldn’t be tax season without income documents, right? Here’s what you need to file your tax return:

Employment Income

This is usually in the form of a W-2 sent by your employer. Be sure to check your mail, email, and any company payment platform if you can’t find your W-2. 

If you’re self-employed, you’ll receive different forms depending on the nature of your gig. Keep an eye out for  Forms 1099-NECs  and 1099-Ks,. 

Received Unemployment income? Don’t worry—a 1099-G form will find its way to you.

Other Income

If you have income from another source, you’ll need records of those amounts, too. Here are a few examples:

• Rental or real estate income.
• Retirement income reported on Form 1099-R
• Savings or investment dividends reported on Form 1099-DIV
• Trusts.
• Royalties reported on Form 1099-Misc
• Jury duty income.
• Gambling winnings reported on Form W2-G

Some of these amounts may be small, but it’s important to list them anyway. Remember to gather all documentation related to this income so you have everything you need. If you are missing income documents, with TurboTax you can automatically import your W-2s and 1099s directly from hundreds of employers, payroll services, and financial institutions.

Debts and Expenses

If you have a mortgage, you’ll likely receive a document called Form 1098. You’ll also want to track down property tax records.

Other  expenses include:

• Health insurance.
• Medical expenses.
• Childcare expenses.
• Tuition and other educational expenses.

Finally, Deduce Your Deductions With a Handy Form

Last up on our tax preparation checklist is everyone’s favorite part: deductions. This is where you get to reduce your income and in turn lower the taxes you pay.

This is a great time to print or create a quick form. That way, you’ll be able to keep track of which deductions you’re looking into and what documentation they require.

Here are a few types of deductions:

Standard Tax Deductions