I just LOVE tax time. Yeah it’s weird, but I do! The idea of getting all of my paperwork together in an organized manner is like heaven for me. Our household had a tricky year, we sold one rental property, there were job moves and a few other fun changes.
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To get started, review last year’s tax documents and create a list from that. Then identify changes you’ve had over the year and how that will affect the information you need.

After that, as the items come in, check them off your list. It’s a pretty simple task and it helps ensure we have what we need. The more efficient you are, the quicker and painless your tax filling will be.

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Below is a starter list, try building one for yourself and see if it helps during this busy time.

Sources of Income

  1. W2 from employers (they have until 1/31 to drop them in the mail to you)
  2. Rental Income Information
  3. Unemployment and previous year’s state refund (1099-G)
  4. Self-employment Information
  5. Savings, Investment or Dividends (1099-INT, 1099-OID, 1099-DIV)
  6. Other Income or Losses (retirement 1099-R, 1099-SSA)

Deduction opportunities

  1. Mortgage Interest Statements (Form 1098)
  2. Real Estate and Personal Property Tax Records
  3. Charitable Donations
  4. Medical Expenses
  5. Child Care Expenses
  6. Educational Expenses (Form 1098-T, 1098-E)
  7. Job Expenses and Tax Prep Fees
  8. State and Local Taxes or Sales Tax
  9. Form 5498-SA or 5498 for HSA or IRA contributions

This stater list is not all-inclusive, there are many more documents out there that may apply to your situation and I am not a CPA, if you have questions please contact a professional in that field.

Good Luck!

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