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What Do You Need To Bring Your Tax Accountant?

January 10, 2016

 

One of the most common questions I get asked is what do I need to complete my tax return.  In order to provide assistance, I have surmised a brief list.

 

Please send in:

  • Copy of last year’s Federal and State tax return

  • All W-2s, 1099s, and a list of any other income (source and amount; when in doubt, list it)

  • Forms 1099-R (Detail of Retirement withdrawals in 2015)

  • Forms 1099-INT and 1099-DIV (Interest and Dividends)

  • A list of all rental property owned during 2015 (description, date acquired, date, description, and cost of improvements to the property, and the detail of income and expenses related to it)

    • A list of all property in 2015 (description, purchase price, date acquired, description, and description, cost and date of all improvements to the property, date sold, and selling price)

  • A list of income and expenses of businesses that you own (For preparation of a Schedule C), Partnership/Corporation income and a description of the partnership in which you are a partner

    • You may ask for our Business Profit/Loss Statement

  • Pensions, trust income, and royalties received.

  • Any Alimony received and/or paid

  • Tax refunds received in 2015; list also tax due and paid with the 2014 tax return

  • Form 1099-B (Sales of stocks and other investments)

  • Farm income or loss

  • Unemployment compensation

  • Social Security benefits received in 2015

  • List of all estimated taxes paid in 2015 and January of 2016 (you may want to include copies of canceled checks for verification).

 

A list of all possible dependents, relationship to you, their ages, whether attending school full-time

 

For Deductions, please list the following:

  • Medical and Dental expenses

  • Taxes you paid

    • Property Tax

    • Personal Income Tax

    • State Income Tax

  • Interest you Paid 

    • Mortgage 

    • Investment

  • Charitable donations

    • Cash

    • Non-Cash (Clothing, Household Goods, etc.)

  • Unreimbursed Job Expenses (travel, union dues, uniforms, education, detail of use of your vehicle for business purposed, etc.),

  • Tax preparation fees paid in 2015

  • Safe Deposit Box Fee

  • Investment fees  

 

Miscellaneous adjustments and deductions to / from income, tax and credits:

  • Job related moving expenses (not reimbursed by employer)

  • Penalty of early withdrawal of savings

  • IRA deduction

  • Form 1098-E (Detail of student loan interest paid in 2015)

  • Jury duty pay given to your employer (who continued your regular paycheck)

  • Detail of child and dependent care expenses

  • Detail of care of elderly and disabled dependents

  • Energy improvements to your home.

  • Educational Expenses (Including Form 1098-T)

 

Other detail that may reduce your taxes:

  • Self employed health insurance premiums

 

These are just some of the many items your tax accountant may need to complete your tax return.  To find what exactly you need to complete your tax return, please contact Jacobson Clergy Tax Service.  You can call us at (609) 375-8295, or email us through our website jclergytax.com.  We are happy to help!

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