What Documents Do I Need to File My Taxes?

Gathering your tax documents before filing is an important step for an accurate and efficient experience. When all necessary information is compiled and organized, it simplifies preparing a tax return, whether you do it yourself or use a professional. This preparation helps prevent common errors that can lead to processing delays or notices from the Internal Revenue Service (IRS).

Essential Personal Information

Every tax return begins with personal data. This includes the full legal names, dates of birth, and Social Security Numbers (SSNs) for yourself and, if filing jointly, your spouse. These details must match the information on file with the Social Security Administration to avoid rejection of the return. An Individual Taxpayer Identification Number (ITIN) is used if you or your spouse are not eligible for an SSN.

The same level of detail is required for any dependents you plan to claim. You will need their full name, date of birth, and SSN or other tax ID number. This information is used to determine eligibility for various credits, such as the Child Tax Credit.

For the final steps of filing, your bank account information is needed, including the bank’s routing number and your account number. Providing this allows the IRS to directly deposit any refund you are owed, which is the fastest way to receive your money. It can also be used to authorize a direct debit if you owe taxes.

Some taxpayers receive an Identity Protection Personal Identification Number (IP PIN) from the IRS. This is a six-digit number assigned to help prevent the misuse of their Social Security Number on fraudulent tax returns. If you, your spouse, or a dependent has been issued an IP PIN, it must be entered correctly on the tax return for the IRS to process it.

Documents for Reporting Income

Wages and Salary

For most individuals, the primary record of income is Form W-2, Wage and Tax Statement, which you should receive from your employer by January 31st. This document details your total wages, tips, and other compensation, and shows the amount of federal and state taxes withheld. Each employer you worked for during the tax year will issue a separate W-2.

Self-Employment or Freelance Income

If you are self-employed or work as an independent contractor, your income is likely reported on Form 1099-NEC, Nonemployee Compensation. Businesses that paid you $600 or more for your services are required to send you this form. You may also receive Form 1099-K from third-party payment networks if you received payments for goods and services over $5,000 in 2024. It is important to maintain your own records of all income, as you may receive payments that do not trigger a 1099 form but still must be reported.

Investment Income

Income from investments is reported on several documents. You will need to gather the following forms:

• Form 1099-INT: Reports interest income of $10 or more from banks, brokerages, and other financial institutions.
• Form 1099-DIV: Reports dividends and distributions from stocks and mutual funds.
• Form 1099-B: Shows the proceeds from the sale of stocks, bonds, or other assets, which is needed to calculate capital gains or losses.
• Schedule K-1: Details your share of income, deductions, and credits if you are a partner in a business or a beneficiary of an estate or trust.

Retirement Income

Distributions from retirement accounts are reported on Form 1099-R. This form shows the total amount distributed and indicates how much of that distribution is taxable. For those receiving Social Security benefits, Form SSA-1099 details the total benefits received during the year, a portion of which may be taxable depending on your total income.

Other Income Sources

Form 1099-G, Certain Government Payments, is used to report taxable unemployment compensation and any state or local income tax refunds you may have received. For other types of payments that don’t fit standard categories, such as rent, royalties, or prizes, you might receive Form 1099-MISC, Miscellaneous Information.

Paperwork for Tax Deductions and Credits

Homeowner Expenses

For homeowners who itemize deductions, you will need Form 1098, Mortgage Interest Statement, from your mortgage lender if you paid $600 or more in interest. This form details the amount of mortgage interest and any points you paid. You will also need your own records of property taxes paid, which can be found on statements from your local tax assessor or on your mortgage statements.

Education Expenses

If you paid for tuition and fees at an eligible postsecondary institution, you will receive Form 1098-T, Tuition Statement. This form reports payments received for qualified tuition and related expenses. For those paying back student loans, Form 1098-E is sent by your lender if you paid $600 or more in interest. You should also gather receipts for other qualifying costs, such as required books and supplies.

Charitable Donations

To deduct charitable contributions, you must have records to prove them. For cash donations, a bank record like a canceled check or credit card statement is necessary. For non-cash donations, you need a receipt from the charity. If a single donation is valued at $250 or more, you must obtain a written acknowledgment from the organization stating the contribution amount and whether you received any goods or services in return.

Medical Expenses

Deducting medical expenses requires good record-keeping, as you can only deduct the amount that exceeds 7.5% of your adjusted gross income. You will need to compile all receipts and bills from healthcare providers, including doctors and dentists. Records should also include payments for prescription drugs, insulin, health insurance premiums paid with after-tax dollars, and a log of mileage for travel to medical appointments.

Family and Childcare Credits

To claim credits related to family and childcare, such as the Child and Dependent Care Credit, specific information about the care provider is mandatory. You must have records of the total amount you paid for care. You will also need the provider’s name, address, and Taxpayer Identification Number (either a Social Security Number or an Employer Identification Number). The IRS may disallow the credit without this provider information.

Additional Tax-Related Records

Prior Year’s Tax Return

Having a copy of your previous year’s federal and state tax returns is beneficial when preparing the current year’s return. The IRS requires you to provide your prior-year Adjusted Gross Income (AGI) to verify your identity when you e-file your tax return. Having the old return on hand prevents delays in the identity verification process.

Estimated Tax Payments

If you made estimated tax payments to federal, state, or local tax agencies, you need a complete record of these payments. This applies to self-employed individuals or anyone with significant income not subject to withholding. Your records should include the date each payment was made and the amount paid to ensure you get proper credit.

Health Insurance Coverage

Documentation of health insurance coverage is important, particularly for those who obtained a plan through the Health Insurance Marketplace. You will receive Form 1095-A, Health Insurance Marketplace Statement. This form is needed for reconciling the amount of premium tax credit you received in advance with the credit you are actually eligible for. While Forms 1095-B and 1095-C are generally not needed to file your federal return, they should be kept for your records.