The last day to file personal and C Corp (1120) tax returns is 15th April 2024. Please expedite your filings.

Tax Return Preparation Checklist A Complete Guide to File Your Taxes

Tax season set forward a lot of difficulties while getting gather all documentation that required to be convenient while taking a shot at your Tax Return. In this way, it\’s a great opportunity to be mindful of the documents you have to prepare.

Fortunately, a Tax preparation checklist lets you help to find and get things what is required to proceed to get ready or supply to your expert CPA. Being prepared for the tax season will assist you with speeding up your tax return preparation process, and potentially reduce your duties trouble or tax burden.

Do All Items are necessary?

Before starting to set up your income tax return, experience the accompanying Checklist or agenda. Remember that not every one of the categories or items listed beneath will put on to your particular Tax circumstance, so simply select those that do, and ensure that you have the required data accessible.

Tax Filing Preparation Checklist

To getting ready to file your return, utilize this checklist to gather the Tax, Income, and Finance reports to make your filing time quick and productive.

Personal/General Information

  • Your, spouse and dependents DOB.
  • Full Names and Social Security Numbers (SSN) for yourself, your spouse, and any children/dependents that you have.
  • Payments of Estimated Federal, State, local taxes paid, or pay-check withholding amounts paid over the tax year being filed.
  • Previous year tax returns for you and your spouse.
  • Bank account number and routing number, if you are picking for depositing your tax refund directly into your bank account.

Dependent(s) Information

  • Child care records, including the child care worker’s tax ID number (if applicable) and the total fees paid to the worker or babysitter.
  • Form 8332 –This form proves the child’s custodial parent issues their right to claim the child as reliant on you. (if you’re not your child’s custodial parent then it’s applicable.)

Traditional Employment


  • Form W2 – You will need this form for every outdated part-time or full-time position during the year you held with a company.


  • Form 1099-G – If you are unemployed, this form is to document any un-employment compensation you received. if in the previous tax year you are awarded a state refund you will also receive this form.

Self-Employed (contractor or freelancer)

  • Form 1099-MISC
  • Form 1099-K
  • Schedule K-1
  • income records to verify amounts not reported on 1099s
  • Records of all expenses — Business expense records, including receipts in addition credit card statements
  • Workplace information (i.e., area of your home office, payment receipts if you rent a area outside of your home)
  • Asset information used in Business for tracking depreciation
  • Record of estimated payments of tax made (Form 1040–ES)

Rental Income

  • Records of income and expenses
  • Rental asset information (cost, date placed in service, etc.) for tracking depreciation
  • Form 1040–ES — Records of estimated tax payment

Retirement Income

  • Form 1099-R – This form sets out any pension, IRA, or annuity income.
  • Traditional IRA basis – (Compile the amount of money you paid to IRA that was already taxed.)
  • Form SSA-1099 – This form passes on any social security benefits you received during the year.
  • Form RRB-1099 – If you work for the railway, this form specifies the payments you received from the Railroad Retirement Board.
  • Form RRB-1099-R – This document describes the annuity/pension payments which railroad workers received from the Railroad Retirement Board.
  • Form 5498-SA – showing HSA contributions
  • Form 5498 – showing IRA contributions
  • Form 5498-QA
  • Form 5498-ESA

Savings & Investments or Dividends

  • Form 1099-SA – If you avail of HSA or  Health Savings Account funds during the year, this will report about distributions you took.
  • Form 1099-LTC – This form is sent to you if you be awarded any long-term care benefits.
  • Form 1099-INT — Interest
  • Form 1099-OID
  • Form 1099-DIV — Dividend
  • Form 1099-B, Form 1099-S —- Income from sales of stock or other property
  • Dates of investment acquisition along with records of your cost or another basis of the property you sold (if the basis is not reported on 1099-B)
  • The latest record of any expenses related to your investments
  • Record of estimated tax payments made on the income to cover the tax bill from those investments (Form 1040–ES)

Miscellaneous Income or Losses

  • Form W-2G –Gambling income (This from show income along with expense records)
  • A complete record of Hobby income and expenses
  • Information on any awards or prizes you received during the tax year

Details on Trusts

  • Royalty Income 1099–Misc.
  • Any other 1099s received
  • Record of alimony paid or received with ex-spouse’s SSN and name
  • Jury duty records


Home Ownership

  • Form 1098 or other mortgage interest statements
  • Real estate tax records
  • Personal property tax records
  • Receipts for energy-saving home improvements (i.e., solar panels or water heater)
  • Form 1098 and All other 1098 forms series

Medical expense records

  • Amounts paid for health-care insurance, to doctors, dentists or hospitals.

Charitable Donations

  • Records of cash amounts donated to charitable organizations, houses of worship, schools.
  • Records of non-cash charitable donation made
  • Record/Amounts of miles driven while volunteering for a charity or medical purposes

Educational Expenses

  • Forms 1098-T—This from reports educational institutions
  • Receipts that itemize for educational expenses (i.e., books and other supplies)
  • Records of any fellowships or scholarships you received
  • Form 1098-E —This form reports your paid student loan interest

Health Insurance

  • Form 1095-A if you enrolled in an insurance plan through the Market (Exchange)
  • Form 1095-B, 1095-C if you had insurance coverage via any other source (e.g., insurance company, an employer, or government health plan such as Medicare, CHIP, Medicaid, VA, TRICARE, etc.)
  • Marketplace exemption certificate (ECN) — if you applied and received an exemption from the Marketplace (Exchange)

Childcare Expenses

  • Fees that paid to a licensed day-care center or family day-care for the care of a preschooler or infant
  • Wages that paid to a babysitter
  • Don\’t include expenses that paid via flexible spending account at work

State and Local Taxes

  • Record of the state/local income tax you paid all over the year
  • Vehicle sales tax paid the invoice, if applicable
  • Record of the amount of sales tax you paid during the year

Federally Declared Disaster Relief
If you had ever lived in a federally declared disaster relief area, you will need this information while filing your tax return:

  • Name of the city, county that you worked or had property in that was professed a disaster area
  • Property loss records (i.e., appraisals, clean-up costs, etc.)
  • Detailed list/Records of rebuilding/repair costs
  • Paperwork that supports any insurance reimbursements or claims to be paid
  • FEMA assistance information (Check FEMA website to see if your county has been declared a federal disaster area)
  • Insurance claims/reimbursements to be paid

About SG Inc. CPA:

SG Inc. C.P.A is a universally perceived Accounting firm situated in Dallas, TX, and Milpitas, California, serving the businesses throughout the previous 15 years, with nitty-gritty expertise working with customers from various states and their tax return matters across the country.

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