{"id":1838,"date":"2024-01-08T00:23:00","date_gmt":"2024-01-08T00:23:00","guid":{"rendered":"https:\/\/www.irstaxapp.com\/?p=1838"},"modified":"2024-01-09T13:47:04","modified_gmt":"2024-01-09T13:47:04","slug":"checklist-for-tax-preparation","status":"publish","type":"post","link":"https:\/\/www.irstaxapp.com\/checklist-for-tax-preparation\/","title":{"rendered":"Tax Season 2024 Begins on 29th January: Here is An Ultimate Checklist for Tax Preparation."},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><picture><source srcset=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1024x576.webp 1024w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--300x169.webp 300w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--768x432.webp 768w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1536x864.webp 1536w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--150x84.webp 150w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--750x422.webp 750w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1140x641.webp 1140w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist-.webp 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1024x576.png\" height=\"576\" width=\"1024\" srcset=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1024x576.png 1024w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--300x169.png 300w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--768x432.png 768w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1536x864.png 1536w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--150x84.png 150w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--750x422.png 750w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist--1140x641.png 1140w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2023\/03\/2024-tax-checklist-.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" class=\"wp-image-7500 sp-no-webp\" alt=\"checklist for tax preparation\" decoding=\"async\" loading=\"lazy\"  > <\/picture><\/figure>\n\n\n\n<p>A checklist for tax preparation is the first thing one should consider when you start preparing for tax filing.The IRS has already announced <a href=\"https:\/\/www.irs.gov\/newsroom\/2024-tax-filing-season-set-for-january-29-irs-continues-to-make-improvements-to-help-taxpayers\" target=\"_blank\" rel=\"noopener\">tax seasons<\/a> start from 29th January 2024, when they start. In this post, you will find a checklist to cruise through this annual ritual smoothly. This will smoothen the process of filing your taxes.\u00a0 Please note that based on the date of your tax return and the kind of tax credits you claim, the date of your <a href=\"https:\/\/www.irstaxapp.com\/wheres-my-refund-3-ways-to-know\/\">tax refund<\/a> will depend.<\/p>\n\n\n\n<p>The tax filing checklist has been prepared for a broad audience, so some items listed may not apply to your specific tax situation.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6629144763770\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6629144763770\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.irstaxapp.com\/checklist-for-tax-preparation\/#Checklist_for_tax_preparation\" title=\"Checklist for tax preparation\">Checklist for tax preparation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.irstaxapp.com\/checklist-for-tax-preparation\/#Tax_checklists_for_Income_Fields_in_Tax_Return\" title=\"Tax checklists for Income Fields in Tax Return\">Tax checklists for Income Fields in Tax Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.irstaxapp.com\/checklist-for-tax-preparation\/#Miscellaneous_Income_or_Losses\" title=\"Miscellaneous Income or Losses\">Miscellaneous Income or Losses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.irstaxapp.com\/checklist-for-tax-preparation\/#Checklist_for_Tax_Preparation_Claim_of_deductions\" title=\"Checklist for Tax Preparation &amp; Claim of deductions\">Checklist for Tax Preparation &amp; Claim of deductions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.irstaxapp.com\/checklist-for-tax-preparation\/#Tax_Checklist_for_Disaster_Relief\" title=\"Tax Checklist for Disaster Relief\">Tax Checklist for Disaster Relief<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Checklist_for_tax_preparation\"><\/span>Checklist for tax preparation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Personal Information<\/h3>\n\n\n\n<ul>\n<li>\u2705Social Security Numbers (SSN) or tax ID numbers<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Dependent(s) Information<\/h3>\n\n\n\n<ul>\n<li>\u2705 <a href=\"https:\/\/www.irstaxapp.com\/child-tax-credit-is-different-than-child-dependent-credit-1\/\">Child-care records<\/a>, including the child-care provider\u2019s tax ID number (if applicable) and the total fees paid to the provider or babysitter.<\/li>\n\n\n\n<li>\u2705 Form 8332 \u2013 (This applies only if you are not your child\u2019s custodial parent.) This form proves the child\u2019s custodial parent releases their right to claim the child as a dependent to you.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_checklists_for_Income_Fields_in_Tax_Return\"><\/span>Tax checklists for Income Fields in Tax Return<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Employment-related<\/h3>\n\n\n\n<ul>\n<li>\u2705 <a href=\"https:\/\/www.irstaxapp.com\/form-w2-old-current-transacripts\/\">Form W-2 <\/a>\u2013\u00a0 Form you held with a company during the year.<\/li>\n\n\n\n<li>\u2705  <strong>Form 1099-G<\/strong> \u2013 You\u2019ll receive Form 1099-G if you were unemployed during the year or received a state refund for the previous tax year.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Tax checklist for Self-Employed Income<\/h3>\n\n\n\n<ul>\n<li>\u2705  Forms 1099, Schedules K-1, income records to verify amounts not reported on 1099s<\/li>\n\n\n\n<li>\u2705 Records of all expenses \u2014 check registers or credit card statements, and receipts<\/li>\n\n\n\n<li>\u2705 Business-use asset information (cost, date placed in service, etc.) for depreciation<\/li>\n\n\n\n<li>\u2705Office in-home information, if applicable<\/li>\n\n\n\n<li>\u2705 Record of estimated tax payments made (Form 1040\u2013ES)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Tax Checklist for Rental Income<\/h3>\n\n\n\n<ul>\n<li>\u2705 Up-to-date income and expense records<\/li>\n\n\n\n<li>\u2705 Rental asset information for tracking depreciation<\/li>\n\n\n\n<li>\u2705 Estimated tax payment records<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Tax Checklist Retirement Related Data<\/h3>\n\n\n\n<p>Only that relates to you<\/p>\n\n\n\n<ul>\n<li>\u2705 Form 1099-R \u2013For any pension, IRA or annuity income.<\/li>\n\n\n\n<li>\u2705 Traditional IRA basis<\/li>\n\n\n\n<li>\u2705 Form SSA-1099 \u2013 For any social security benefits received during the year.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Tax checklist for Savings &amp; Investments or Dividends<\/h3>\n\n\n\n<ul>\n<li>\u2705 <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1099sa.pdf\" target=\"_blank\" rel=\"noopener\">Form 1099-SA<\/a> \u2013 If you use HSA funds during the year, this form reports the distributions you took.<\/li>\n\n\n\n<li>\u2705 Form 1099-LTC is sent to you if you received any long-term care benefits.<\/li>\n\n\n\n<li>\u2705 Form 1099-INT-Interest Income<\/li>\n\n\n\n<li>\u2705 Form 1099-B- Proceeds from broker or barter exchange<\/li>\n\n\n\n<li>\u2705 Form 1099-S Proceeds from real estate transactiobns<\/li>\n\n\n\n<li>\u2705 All investment acquisition dates, along with cost records or another cost basis\u00a0of the property you sold<\/li>\n\n\n\n<li>\u2705 An up-to-date record of any expenses related to your investments<\/li>\n\n\n\n<li>\u2705 Record of estimated tax payments made to cover the tax bill on the income from those investments<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Miscellaneous_Income_or_Losses\"><\/span>Miscellaneous Income or Losses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>\u2705 Form W-2G<\/li>\n\n\n\n<li>\u2705 A detailed record of hobby income and expenses<\/li>\n\n\n\n<li>\u2705 Information on any prizes or awards you received during the tax year<\/li>\n\n\n\n<li>\u2705 Details on Trusts<\/li>\n\n\n\n<li>\u2705 Royalty income 1099-MISC<\/li>\n\n\n\n<li>\u2705 Records of any<a href=\"https:\/\/www.irstaxapp.com\/us-tax-court-payment-of-ex-spouses-student-loans-deducible-as-alimony\/\"> alimony<\/a> paid or received<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Checklist_for_Tax_Preparation_Claim_of_deductions\"><\/span>Checklist for Tax Preparation &amp; Claim of deductions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Tax Checklist for <strong>Home Ownership<\/strong><\/h3>\n\n\n\n<ul>\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Forms 1098 or other mortgage interest statements<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Real estate and personal property tax records<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Receipts for energy-saving<a href=\"https:\/\/www.irstaxapp.com\/how-home-improvement-loan-interest-deduction\/\"> home improvements<\/a> (e.g., solar panels, solar water heater)<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 All other 1098 series forms<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Charitable Donations<\/h3>\n\n\n\n<ul>\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Cash amounts donated to houses of worship, schools, and other charitable organizations<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Records of non-cash charitable donations<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Amounts of miles driven for charitable or medical purposes<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Educational Expenses<\/h3>\n\n\n\n<ul>\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Forms 1098-T from educational institutions<\/li>\n\n\n\n<li>\u2705 <span class=\"check-box\">\u00a0<\/span>Receipts that itemize qualified educational expenses<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Records of any scholarships or fellowships you received<\/li>\n\n\n\n<li><span class=\"check-box\">\u00a0<\/span>\u2705 Form 1098-E if you paid student loan interest<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">State and Local Taxes<\/h3>\n\n\n\n<ul>\n<li>\u2705 Record of the state and local income tax you paid throughout the year<\/li>\n\n\n\n<li>\u2705 Vehicle sales tax invoice, if applicable<\/li>\n\n\n\n<li>\u2705 Record of the amount of sales tax paid during the year<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Checklist_for_Disaster_Relief\"><\/span>Tax Checklist for Disaster Relief<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you ever lived in a federally declared disaster relief area, you\u2019ll need this information when filing your tax return:<\/p>\n\n\n\n<ul>\n<li>\u2705 Name of the city and county that you worked or owned property in that was declared a disaster area<\/li>\n\n\n\n<li>\u2705 Property loss records (i.e., appraisals, clean-up costs)<\/li>\n\n\n\n<li>\u2705 A detailed list of rebuilding costs<\/li>\n\n\n\n<li>\u2705 Paperwork that supports any insurance reimbursements or claims to be paid<\/li>\n\n\n\n<li>\u2705 FEMA assistance information<\/li>\n<\/ul>\n\n\n\n<p>Print out this\u00a0checklist for tax preparation so that the tax filing for the year passes smoothly without any fault.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A checklist for tax preparation is the first thing one should consider when you start preparing for tax filing.The IRS has already announced tax seasons start from 29th January 2024, when they start. In this post, you will find a checklist to cruise through this annual ritual smoothly. This will smoothen the process of filing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[42],"tags":[],"amp_enabled":false,"_links":{"self":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/1838"}],"collection":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/comments?post=1838"}],"version-history":[{"count":2,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/1838\/revisions"}],"predecessor-version":[{"id":7501,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/1838\/revisions\/7501"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media\/7500"}],"wp:attachment":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media?parent=1838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/categories?post=1838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/tags?post=1838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}