Prepare for Tax Season with this Income Tax Checklist

Wealth | 01.15.2024
Tax time is upon us, and that means gathering all of your documents needed and getting them in one place to make filing your taxes as easy as possible. We thought it would be helpful to share this handy checklist to assist with that.

Income Tax Checklist

Income Items

  • W2 from employer(s)
  • Social Security
  • 1099 for self employment
  • 1099 from pension/annuity
  • 1099 from retirement accounts
  • 1099 from investment accounts
  • 1099 for unemployment
  • K1 from trust, estate, partnership, s-corp
  • State/city refunds
  • Rental income
  • Alimony received
  • Gambling/prize income
  • Jury duty pay
  • Sale of assets (stocks, real estate, etc.)
  • Healthcare forms

Adjustments & Deduction Items

  • Medical and dental expense
  • State and local taxes
  • Home mortgage interest
  • Home equity line interest
  • Moving expenses
  • Property and real estate taxes
  • Gifts of charity
  • Gambling losses/expenses
  • Education expenses 
  • Student loan interest
  • Child-care expenses
  • Adoption costs
  • Alimony paid
  • Retirement plan contributions
  • Self employment expenses
  • Qualifying home improvements
  • Vehicle license fees
Keep in mind that allowable deductions and the rules for applying them can change from year to year, so it’s a good idea to check the Credits and Deductions page on the IRS website.

We also recommend that you get advice from a tax expert on what qualifies for your particular situation. Finally, let us know if there is anything we can help with along the way.

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