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Step 1
Prepare a data sheet of personal information about you and your dependents. This checklist should include everyone's Social Security numbers.
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Step 2
Print a copy of your transactions for the year if you keep your books on the computer. If you keep records by hand, have all the categories totaled. It's also a good idea to prepare a net worth statement at this time so you can see where you are financially.
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Step 3
Track childcare costs. Either use cancelled checks or invoices. Provide the childcare provider's tax ID number as well as the address. Also, add your copy of the IRS notice that announced the amount of your child tax credit payment. Education receipts should also go into this file as well as Tuition Statement (Form 1098-T).
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Step 4
Report all of your income from wages. Provide W-2 forms from all your jobs as well as your spouse. Include Form 1099 (Interest Income), Form 1099-DIV (Dividend Income), Form 1099-B (Income from the sale of bonds) and broker receipts for all stocks sold during the tax year.
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Step 5
Record all income from other sources. This includes alimony payments, business income, home-based business income, pension income including Social Security benefits, rental property income, unemployment income and income from the sale of property.
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Step 6
Provide records of past income tax payments. This includes federal and state tax refunds.
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Step 7
Make a checklist of items you may use for deductions. This includes items you can depreciate, student loan interest, IRA contributions, health savings account contributions, moving expenses, payments to self-employed pension plans, mortgage payments, charitable donations, job expenses, other qualfified interest, medical and dental expenses and real estate taxes.
