Income
- W-2 Earned Income
- Dividend Income
- State Tax Refund
- IRA Distributions
- Jury Duty Pay
- Social Security
- Stocks Sold for a Gain
- Interest Income
- Alimony Received
- Pension & Annuities
- Royalty Income
- Unemployment Income
- Gambling Winnings
Deductions
- Mortgage Interest Paid
- Points paid for purchase or re-finance of home mortgage
- Personal Property Tax Paid (tax based on the value of the asset: vehicles, boats, trailers, intangible tax)
- Real Estate Tax Bill (if not on Mortgage Interest Statement)
- Cash Charitable Contributions
- Non-Cash Charitable Contributions
- Mileage for charitable contributions or charity work
- Safe Deposit Box Rental Fee
- Tax Preparation Fee
- Investment Advisory Fees
- IRA Custodial Fees
- Attorney fees relating to the production of income or regarding tax matters
- Employee Paid Business Expenses
- Mileage
- Travel
- Meals & Entertainment
- Office Expense
- Business Gifts
- Trade Publications
- Medical and Dental Expenses
- Doctors, Dentists
- Hospital & Clinics
- Labs & X-Rays
- Eyeglasses & Contacts
- Mileage to Seek Medical Care
- Medical Equipment & Supplies
- Travel & Transportation Expense (to seek medical care)
- Insurance Premiums-Medical & Dental
- Self Employed Insurance Premiums
- Long-Term Care Insurance Premiums and Expenses
- Lodging (for medical reasons)
- Gambling Losses (to the extent of winnings)
- Casualty or Theft Losses (property stolen or damaged)
- Alimony Paid
- Student Loan Interest Paid
- Educational Expenses
- Union or Professional Dues
- Uniforms or Protective Clothing for Employment
- Investment Interest Paid
- Job Search Expenses
- Childcare Expenses
- Moving Expenses
Retirement
- Contributions
- Withdrawals
- Transfers or re-characterizations of accounts
Self Employment Business
- Income
- Expenses
Rental Property
- Income
- Expenses
Assets
- Closing Statements on homes sold, purchased and re-financed
- Statements for all investment accounts
Partnerships, Estates, Trusts and Corporations
- Schedule K-1s
Farming
- Income
- Expenses
Household Employee
- W-2s issued
- Records of Payments
Home Office Deduction (expenses for operating an office for business purposes in your home)
- Total square footage of home
- Square footage of office used for business
- Homeowners Insurance
- Utilities
- Repairs/Maintenance
Tax Payments
- Estimated Taxes
- Foreign Taxes
- Income Taxes Paid with prior year’s tax return
For more information regarding this topic or any other tax-related issue, contact Henssler Financial at 770-429-9166 or experts@henssler.com.