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| - Tax Checklist for Individuals |
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Tax Checklist for Individuals
If interested in using LivingstonCPA,
please use this list as a guide in gathering your information, complete
it with your personal contact information below, and enclose it with
your submission. Please provide any additional information related
to income and expenses that may be required for your tax return. Have
questions? Contact
us.
- A
copy of last year's Federal and State (if applicable) tax returns (for new clients only).
Income information:
- W-2s
and Interest and Dividend statements
(Form 1099-INT or 1099-DIV)
- Individual Retirement Account year-end
statement, plus any contributions or withdrawals through April 15th
of the year
following the tax return year
- Unemployment income statements
- Trust, "S" corporation,
and/or Partnership income amounts
(Form K-1)
- Income and expenses from sole proprietorships
- Income and expenses
for rental properties and number of days occupied for personal purposes
and rental purposes.
- Details of any capital gains transactions, including
cost basis and date of purchase ( Sale info on 1099-B).
- Other income reported on 1099-MISC
Expense information:
- Amounts
of mortgage interest and points paid (Form 1098)
- Real estate taxes paid
- Charitable donations (both cash and non-cash) and mileage
- Out-of-pocket medical
expenses and mileage
- Non-reimbursed employee business expenses
- Tax preparation fees and
investment expenses
- Sales tax paid: If ALL receipts kept for all purchases during the year, total actual sales tax paid is deductible. If receipts are not kept (most people will fall into this category), the IRS table will be used to calculate the appropriate sales tax deduction (figured by paid preparer).
- If IRS tables are used, sales tax paid on a motor vehicle (including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van, and off-road vehicle), boat, aircraft, home (including a mobile or prefabricated home), and materials to build a home is deductible IN ADDITION TO the amounts deducted per the tables.
Other Information:
- Full
name, date of birth, and social security number for all dependents
- Year-end
market values of non-retirement asset accounts for intangible tax
purposes
- Sale
of home info - only if gain exceeds $250k (single) or $500k (married
filing jointly) and/or you didn't live in it as your primary residence
for at least two years
- Contact information (see
downloadable tax
checklist for specific information needed)
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