What to Bring to Your Tax Advisor Meeting

Almost all CPAs will provide a tax organizer, which will have a summary of the previous year information as well as a questionnaire to help make sure any new items have been considered.  Taking the time to organize your tax documents will help ensure that you are not missing items as well as keep your fees to a reasonable level.  Here are some of the items (though not a comprehensive list) that should be given to your tax preparer:

  • W2 Forms (Wages)
  • W2G (Gambling Income) – please also provide total gambling losses (only if you have winnings as these can be used to offset the taxable amount)
  • 1099 R (Retirement) Forms;
  • 1099-SSA (Social Security)
  • 1099-INT (Interest) ; 1099-DIV (Dividends)
  • 1099-B (Brokerage Sales) – please provide the cost basis and date of purchase if not listed on the 1099-B, often this will be on the annual brokerage statement
  • 1099-MISC
  • K-1 Schedules From Partnerships, S-Corporations, Estates and Trusts
  • Cancellation of Debt Information
  • Unemployment Income
  • Alimony Paid/Received
  • 1098 – Mortgage Interest and Real Estate Taxes Paid
  • 1098-T (Education) Form showing tuition and fees
  • Student Loan Interest
  • HUD statements for Real Estate Purchases or Sales
  • Charitable Donations – both cash and non-cash
  • Unreimbursed Job Expenses & Job Search Expenses
  • Medical Expenses (if total exceeds 10% of your Adjusted Gross Income)
  • IRA/SEP Contributions
  • Estimated Tax Payments Made

Did You Know? While you may be a little overwhelmed, bear in mind that you normally don’t need to file an amended return to correct math errors or for forgotten forms. The IRS will automatically correct math errors for you and will mail you a request for forgotten forms in most cases.

2018-03-05T16:05:38+00:00 January 30th, 2018|Financial Advice|