Tax Preparation Checklist for 2017 Taxes
1. Last year’s return (if a new client) with any changes for 2017 for taxpayer, spouse, and dependents with Social Security Numbers, birth dates, addresses and everyone's driver's licenses.
2. W-2’s from all employers during 2017. 1099-MISC’s for all “self-employed” jobs. The new 1095A, 1095B, and 1095C for health care reporting. K-1’s from S-Corps, partnerships, estates, trusts, and LLCs.
3. Amounts of other income such as hobby income, gambling and prize winnings, tips, alimony, unemployment, disability, judgments from lawsuits, inheritances, loan repayments, etc. (some may be partially taxable).
4. 1099-INT’s (interest), 1099-B (broker and barter) and 1099-DIV’s (dividends) from banks, credit unions, stockbrokers, mutual fund companies, and companies where you own investments. Knowledge of foreign bank accounts.
5. 1099-R’s (retirement) if you have retirement income from pensions, IRA’s, etc.; social security year-end statement.
6. 1099-G’s from State reporting state income tax refund and unemployment received in 2017.
7. 1098’s from mortgage companies to show interest, taxes and points. If you have a mortgage financed by an individual, you’ll need the name, address, Social Security Number and an amortization table to show interest for the year
8. Amount of contributions to an IRA or other retirement plan and IRA Roth rollover amounts for 2017.
9. Amount of deductions including:
* Charitable contributions made by cash or check (need receipt if over $250)
* Donations of goods (not cash or check) with details if over $250
* Medical expenses not reimbursed by insurance (include insurance premiums)
* Ownership tax on car registration
* Real estate taxes
* Employee expenses not reimbursed. (job, education, travel, union dues, etc.)
* Tax preparation fees, safe deposit box fees, and investment fees.
10. Expenses for child care; name of childcare provider with address and Social Security or Employer Identification Number.
11. Self-Employed: List of all business expenses by category including business mileage for car and any new assets purchased.
12. Rental Property: List of all rental income, rental expenses by category, depreciation schedule, and improvements.
13. Amount of all federal and state estimated tax payments made for 2017 with dates.
14. Buy-sell statements relating to securities transactions and year-end broker statements which recap 2017 transactions. Please be sure to provide accurate purchase and sales dates to us.
15. Copies of qualified education expense recap forms (1098-T) received from the college you or your child attended in 2017.
16. Any correspondence received from the IRS or state taxing agencies.
17. Settlement papers from all real estate transactions.
18. Knowledge of foreign bank accounts
19. All other related tax documents.
Download as PDF >>