What Documents You Need to File Your 2010 Tax Return

So you have started receiving tax documents in the mail and have started thinking about what you need to be fully prepared to file your return. Here’s a handy checklist of all the information that you will want to have at hand, whether you prepare your own return or take your taxes to a professional.

1. Social Security numbers. You will want to obtain the Social Security numbers of any dependents, including spouses, children and others you plan to declare as dependents on your return.
2. Information about any income you received. You will need to provide records documenting income received from:
   • Employment, either in the form of a W-2 (for employees) or a 1099 (for independent contractors)
   • Investments, such as
     • Interest income: Form 1099-INT
     • Dividends: Form 1099-DIV
     • Proceeds from the sale of stocks, bonds, etc.: Form 1099-B
     • Schedule K-1 for investments in partnerships or corporations
   • State or local income tax refunds: Form 1099-G
   • Business or farming enterprises, including bank statements, cancelled checks, invoices or billings, payroll records and balance sheet / income statements
   • Alimony payments
   • IRA, 401(k) or other pension distributions: Form 1099-R
   • Unemployment compensation: Form 1099-G from the appropriate state agency, or unemployment check stubs or deposit records
   • Rental Property
     • profit and loss statements
     • mortgage interest payments
     • property tax bills
     • checkbook or cancelled checks to document expenses
   • The sale of property
   • Social Security benefits: Form SSA-1099
   • Miscellaneous income, such as
     • Gambling and lottery winnings (Form W-2G)
     • Prizes or awards (Form 1099-MISC)
     • Scholarships received (if you used the money for anything other than supplies, books or the cost of your education)
     • Jury duty pay
     • Distributions from medical savings accounts (Form 1099-MSA)
     • Directors fees for serving on a corporate or other board
3. Information to support credits and deductions
   • Advance child tax credit - You will want the IRS notice identifying the amount of your credit
   • Child care costs - You will need
     • Name and address of child care provider
     • SSN or tax ID of the child care provider
     • Cancelled checks or invoices from provider
   • Adoption costs - To take the adoption credit or deduct costs of an adoption, you need the SSN or ID number of the adopted child and receipts / cancelled checks to support the cost of legal fees, transportation and other expenses
   • Education costs - You will want a copy of Form 1098-T showing how much tuition you paid, as well as receipts or cancelled checks for tuition
   • Interest payments, including Form 1098 showing the amount of mortgage interest paid, as well as broker or loan statements showing interest paid
   • Theft or casualty losses - You will want records with the description of any property stolen or damaged, as well as receipts showing the cost of the property. You will also want insurance reports indicating the amount of a reimbursement
   • Charitable donation - You need records of
     • cash donations
     • donations of property (with an estimated value of the property donated)
   • Job expenses, such as
     • seminar fees, professional publications, or tools and supplies needed for your job
     • travel information, including mileage, meal costs, hotel expenses and other fees
   • Medical and dental bills
   • Miscellaneous deductions
     • Union dues
     • Gifts to clients
     • Reimbursements from your employer
4. Information about Income Adjustments
   • Homebuyer credit information (Form 5405)
   • Green energy credits (Form 5695)
   • Medical savings account information
   • Moving expenses
   • IRA contributions
   • Student loan interest paid (Form 1098-E)
   • Self employed health insurance costs
   • Pension plan (Keogh, SEP, SIMPLE) contributions
   • Alimony expenses
5. Information about taxes you paid
   • Your last year's state and local income tax return
   • Real estate tax statements
   • Personal property tax bills
6. Other miscellaneous information you may need
   • A completed Form W-9 for any household employee you had last year
   • Information on any estimated or prior tax payments you made
   • Foreign bank information
   • Direct deposit information (if you want your return directly deposited)
   • The bill of sale for a hybrid vehicle if you want to take the appropriate tax break