What Do I Need To File My Taxes? Complete List Of Things You Need To File Your Taxes

So, are you trying to file your taxes and wondering what I need to file my taxes?

If yes, you have arrived at the right place. In this article, I have listed all the information you might or might not need to gather to file your taxes.

Go through this article for your answer.

What Do I Need To File My Taxes?

If you are preparing to file your taxes, you must gather the necessary documents. Although it depends on your current situation and state, here is a list to help you. Follow the list of necessary documents listed here –

Your Personal Information

Tax Identification Numbers are very important for filing your tax returns. So, when you want to file your taxes, you need to have the necessary personal information in hand during the filing process of your taxes.

1. You will need your tax ID number or your Social Security number.
2. The full name of your spouse, or your social security number, tax ID number, and date of birth.
3. If the IRS issued an Identity Protection PIN to you, your spouse, or your dependent, you must also provide that when filing taxes.
4. It is also important to provide your routing and account numbers while filing your taxes. You must provide the necessary contact to get your tax returns refunded through direct deposit. Your routing or account number also helps you pay your due taxes.

Dependent(s) Information

If you are a parent or a caregiver, you need to read the information related to your dependant when gathering different information for filing taxes. Here are some of the common information you need to take care of –

• The first information you need to ready is their date of birth and their Social Security Number.
• Provide the Childcare Records ( also include the provider’s tax ID number) if applicable.
• Dependent’s income or the income of the other inhabitants of the home.
• You must also read Form 8332, which shows that the child’s custodial parent is releasing their right to claim the child to a new noncustodial parent, you ( if it is applicable).

Income Sources

What do I need to file my taxes? If this is what you are asking, then check out this section. You may need to include your investment forms if you want. You will only get the investment forms needed for idling your taxes if you have distribution.

Employed & Unemployed

• W-2 form for employed.
• (1099-G) forms for unemployed

Self-Employed

Here is different information one needs to gather to file taxes as a self-employed –

• Forms 1099, income records, Schedules K-1 for verifying reports not reported on 1099-NEC or 1099-MISC.
• Records of all expenses – credit card statements, check registers, and receipts.
• Business-use asset information (date placed in service, cost, etc.) for depreciation.
• Information of office in the home if it is applicable.
• Records of the estimated amount of tax payments made (Form 1040–ES)

Rental Income

If you are self-employed and earn from rentals, then you may need to gather the information listed below –

• Income and expense records.
• Rental asset information ( date placed in service, cost, etc.)
• Records of the estimated amount of tax payments made (Form 1040–ES)

Retirement Income 

What do I need to file taxes? If that is your question and your income source is from your retirement fund, then you might need to read the information listed below–

• IRA/Pension/annuity income (1099-R).
• Traditional IRA basis.
• Social Security or your RBB income: (SSA-1099, RRB-1099)

Savings And Investment Dividends

You may need to gather information about your savings and dividends when filing for taxes.

• Payment card & Third Party Network Transactions – 1099-K
• You need W-2G information or records showing income or expenses for gambling.
• Jury duty records
• Prizes and awards
• Hobby income & expenses
• Trust income
• Prizes & awards
• Any other 1099s received
• Royalty Income 1099–MISC
• State tax refund
• Records of alimony received or paid with the name and SSN of the ex-spouse.

Types of Deductions

The different types of deductions you can take are related to your life situation. It is possible that you will not need all the documents listed below for all of your taxes. But, just in case you need them, stay informed by reading the below section –

Home Ownership

• 1098 Forms or other mortgage interest statements.
• Real estate, personal property tax records.
• Receipts for home improvement initiatives that save energy ( solar panel/ solar water heater.)
• All other 1098 series forms.

Charitable Donations

• Cash accounts are donated for houses of schools, worship, and other charitable donations.
• Noncash records of donations related to charity.
• Amount of total miles driven for medical or charitable purposes.

Health Insurance

• If you have enrolled in an insurance plan through the Marketplace, you may need a Form 1095-A

Childcare Expenses

• The fees paid to a licensed daycare center for the care of an infant or a child.
• The babysitting amount paid to a babysitter for the care of a child under the age of 13.
• Expenses are paid using a dependent care flexible account.

Educational Expenses

• Forms 1098-T from an educational institution.
• Reports itemizing qualified educational costs.
• Any record related to any fellowship or scholarship someone received.
• Form 1098-E is necessary if you have paid interest on a student loan.

K-12 Educator Expenses

• Gather your receipts for your classroom expenses ( for educators working in grades K-12 grades 12)

State and Local Taxes

• You need the amount you paid in local and sales tax (other than wage withholding).
• Invoices that show the amount of vehicle sales tax paid or personal or property tax.

Retirement & Other Savings

• 5498-SA for showing HSA contributions.
• Form 5498 for showing IRA contributions.
• All the other 5498 series forms.

Federally Declared Disaster

• City you worked in/county you lived/ had property in.
• Records for supporting property losses. (clean-up costs, appraisals, etc.
• Records of repair/rebuilding costs.
• Insurance claims to be paid or insurance reimbursements.
• FEMA assistance information

Final Words

So, now that you have all the information needed for filing your taxes, do you find this article helpful? We have listed all the necessary information related to filing taxes. You may not need to gather most of them. However, depending on your situation, the information you need may change.

You can also read the other tax articles we published on our website. Thank you for reading.

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