11/26/2012
ORGANIZING MONDAY TIPS:
The IRS needs to know exactly who's filing and who is covered in your tax return. To do this, you will need Social Security numbers and dates of birth for you, your spouse, and your dependents:
Information about your income:
Income from jobs: forms W-2 for you and your spouse
Investment income - various forms 1099 (-INT, -DIV, -B, etc.), K-1s, stock option information
Income from state and local income tax refunds and/or unemployment: forms 1099-G
Alimony received
Business or farming income - profit/loss statement, capital equipment information
If you use your home for business - home size, office size, home expenses, office expenses.
IRA/pension distributions - forms 1099-R, 8606
Rental property income/expense - profit/Loss statement, rental property suspended loss information
Social Security benefits - forms SSA-1099
Income from sales of property - original cost and cost of improvements, escrow closing statement, cancelled debt information (form 1099-C)
Prior year installment sale information - forms 6252, principal and Interest collected during the year, SSN and address of payer
Other miscellaneous income - jury duty, gambling winnings, Medical Savings Account (MSA), scholarships, etc.
More tips coming your way so stay tuned. Give us a call or email us we are here to help
[email protected]