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Tax Return Checklist

Memory Jogger and Tax Return Checklist

The following is a list of information needed to accurately complete your Income Tax Return:

1. INCOME ITEMS

Wages (W2 Forms)
Contract Labor (1099-MISC)
Interest (1099-INT or savings & loans and bank reports)
Dividends (1099-DIV or saving & loans and bank reports)
Alimony
Pension Income (1099-R and/or W-2P)
Prizes, Awards, and Bonuses
Jury Duty, Fees, Commissions, Scholarships (1099-MISC)
Tips
Barter Income
Installment Sales
Unemployment Compensations
Social Security Income
Business Income
Farm Income
Rental Income
Partnership, S corporation & Estate Income (K-1's)
Gambling Winnings or Lottery Winnings
Tax Exempt Interest (i. e. Municipal Bonds, etc.)
State Tax Refunds (only if you itemized deductions on your previous year return)
Lump Sum Distribution from Pension/Profit Sharing Plan and IRAs (1099 and/or W-2P)
Capital Gains or Losses (Stock Sales, 1099-B, See 14) (Real Estate Sales 1099-B, see 8)

2. TAX DEDUCTION ITEMS - EXPENSES

A. Medical (must exceed 7.5% of AGI if 65 or older-10% if under 65 )
Medical and Dental Insurance
Prescription Drugs and Insulin
Hospital and Ambulance charges
Doctor and Nurse charges
Lab Tests and X-Rays
Medical Equipment and Supplies
Glasses, Dentures, Hearing Aids
Mileage, Transportation, and Lodging (23.5 cents per mile)
Insurance Reimbursement
Special Schools for Learning Disabilities
Handicap Schools
Nursing and Domestic Care
Other

B. TAXES
State and City Income Taxes
Real Estate Taxes
Ad Valorem Tax (Auto, Trailer, Boat, etc.)
Intangible Tax
Personal Property Tax
Other

C. Interest
Home Mortgage(s)
Lines of Credit and Home Equity Loans
Points Paid to Acquire or Refinance Home
Investment Interest
Business Loans (See 6)

D. CONTRIBUTIONS
Church Tithes and Offerings
Other Cash Contributions
Non-Cash Contributions (List Descriptions and FMV)
Personal Expenses for Charity
Mileage (14 cents per mile)
Meals
Lodging
Supplies
Uniforms
Foster Parent Expenses
Property Donated (FMV and Appraisal statement if value exceeds $5,000)
Appraisal Fees for Donated Property
Written Substantiation Form from Donee Organization for Separate Contribution of $250 or more (cash, check or property)
Other

E. MISCELLANEOUS EXPENSES
(must exceed 2% of AGI)
Employment Agency Fees
Job Search ($, Miles, and Resume)
Professional Fees, Dues, and Subscriptions
*Home Office of Shop (See Summary)
Tools and Supplies
Uniforms and Special Shoes (Purchase and Maintenance)
Union Dues and Union Expenses
Tax Counseling, Preparation, and Audit Rep.
Investment Expense
Safe Deposit Box
Custodial Fees
Supplies
Publications and Books
Transportation
Counseling Fees
Military Reservist Expenses
Gambling Losses (extent of winnings)
Expenses for Production and Collection of Income
Business Educational Expenses
Tuition, Books and Supplies
Lab Fees
Travel and Transportation (Limited)
Parking
Other

F. CASUALTY AND THEFT LOSSES
(must exceed 10% of AGI and must be reported to insurance company)
Car Accident
Storm Damage
Fire or Flood Damage
Theft
Appraisal Fees
Insurance Reimbursement
Police or Insurance Report
Other

*OFFICE IN HOME SUMMARY
(can only be used up to the amount of profit of business)
Cleaning and Maintenance (Maid)
Depreciation (Cost of Home plus improvements)
Utilities (not telephone)
Insurance
Trash
Repairs
Taxes and Interest
Rent
Security System
Landscaping
Other (Safe Harbor rules exist in lieu of actual expenses)

3. RENTAL INCOME AND EXPENSES (Sch. E)

Rent Received
Application Fees Received
Security Deposit Applied as Rent
Expenses
Advertising
Auto and travel (56 cents per mile)
Cleaning
Commissions
Gardening
Furniture and Fixtures
Insurance
Interest
Management Fees
Condo/Homeowner's Assn. Fees
Repairs and Maintenance
Supplies
Taxes
Telephone
Trash
Postage
Utilities
Capital Improvements and Equipment
Legal and Professional Fees
Wages and Salaries
Bank Charges
Rental Publications and Books
Rental Seminars and Courses
Office Expenses
Mortgage Refinance (closing cost)
Other

4. MOVING EXPENSES (Form 3903)

Packing Expenses and Supplies
Transportation (pro-movers or truck rental)
(furniture, personal property and temp. storage)
Travel Expenses (mileage at 56 cents per mile) (family/lodging)

5. OTHER DEDUCTIONS AND TAX CREDITS

Child (0-12) and Disabled Dep. Care (see 13)
Credit for Elderly (65 years or older)
Earned Income Credit
Mortgage Interest Credit
Historic and Low Income Housing Credit
Foreign Tax Credit
Credit for Excess FICA tax
Fuel Tax Credit (New diesel car/truck and off-road use)
IRA, Keogh, and SEP contributions
Alimony Paid
Penalty on Early Withdrawal of Savings

6. BUSINESS EXPENSES

(Form 2106 or Sch. C or F)
Auto expenses (56 cents per mile)
Gasoline
Oil and Lube
Repairs and Maintenance
Washing and Waxing
Insurance
License, Tags, and Inspection Fees
Parking and Tolls
Garage Rent
Tires and Tubes
Interest (only if self-employed)
Lease (FMV of Car on lease date)
Accessories
Other
Mileage (total for the year)
Mileage (total for business)
Year-End Odometer Reading

Travel Expenses
Fares (plane, taxi, bus, train)
Lodging
Meals (may be subject to 50% limitation)
Tips
Auto Rental
Other

Business Entertainment and Selling Expenses (may be subject to 50% limitation)
Meals and Drinks
Tickets for Events
Gifts (Limited $25 per recipient per year)
Premiums (specialty advertising)
Cards
Commissions and Finder's Fees
Business Club Membership Fees
Other

Business Supplies and Expenses
Stationery and Supplies
Postage and Freight
Professional Dues and Subscriptions
Business Cards
Office Equipment and Furniture
Telephone and Communications (car phone, beeper, etc.)
Pay Phones
Answering Machine or Answering Service
FAX Machine or FAX Service
Home Phone (Long Distance and Special Features)
Business Phone at Home (separate line only)
Business Education and Seminars
*Home Office (see *OFFICE IN HOME SUMMARY)
Laundry and Cleaning (uniforms or travel)
Credit Card Fees
Interest (Business Loans or Business Credit Cards)
Insurance (errors and omissions or Business Policy)
Health Insurance for self-employed
Donations (Business Promotions)
Advertising
Office Rent and Utilities
License(s) and Permits
Contractor Fees or Wages
Legal and Professional Fees
Business Bank Account Fees