2021 Tax Preparation Annapolis, Maryland

Here’s What You Need for Your 2020 Taxes

Filing your taxes on your own is not for the faint of heart.

But that’s what we’re here for. Let *us* make it easy for you.

Below is a list of what you will need during the tax preparation process. Not all of them will apply to you.

Before you get overwhelmed: yes, this is a long list — but it’s the unfortunate reality of our comprehensive tax code!

Also note: There are certain CARES Act (stimulus) and CAA (second stimulus) items that you will need to know as well. I’ve notated them in italics.

Personal Data

Social Security Numbers (including spouse and children)
Child care provider tax I.D. or Social Security Number

Employment & Income Data

-Amount of CARES Act (1st Stimulus) payment amount received and date paid ~ April/May 2020 ($1,200 per adult, $500 per child)
-Amount of CAA (2nd Stimulus) payment amount received and date paid ~ early January 2021 ($600 per adult & child)
W-2 forms for this year
Tax refunds and unemployment compensation: Form 1099-G
Miscellaneous income including rent: Form 1099-MISC
Partnership and trust income
Pensions and annuities
Alimony received
Jury duty pay
Gambling and lottery winnings
Prizes and awards
Scholarships and fellowships
State and local income tax refunds
Unemployment compensation

Health Insurance Information

* All 1095-A Forms from Marketplace providers (if you purchased insurance through a Marketplace)
* Records of credits and/or advance payments received from the Premium Tax Credit (if claiming)

Homeowner/Renter Data

Residential address(es) for this year
Mortgage interest: Form 1098
Sale of your home or other real estate: Form 1099-S
Second mortgage interest paid
Real estate taxes paid
Rent paid during tax year
Moving expenses (if in active military, and moving for new orders)
Reimbursements for moving (counts as ordinary income)

Financial Assets

Interest income statements: Form 1099-INT & 1099-OID
Dividend income statements: Form 1099-DIV
Proceeds from broker transactions: Form 1099-B
Retirement plan distribution: Form 1099-R
Capital gains or losses

Financial Liabilities

Auto loans and leases (account numbers and car value) if vehicle used for business
Student loan interest paid
Early withdrawal penalties on CDs and other fixed time deposits

Automobiles

Personal property tax information
Department of Motor Vehicles fees

Expenses

Gifts to charity (receipts for any single donations of $250 or more)
Unreimbursed expenses related to volunteer work
Investment expenses
Job-hunting expenses
Education expenses (tuition and fees)
Child care expenses
Medical Savings Accounts
Adoption expenses

Self-Employment Data

Number of Days you were unable to work due to being quarantined due to the COVID 19 virus or due to symptoms of COVID, including time while waiting for test results (do not include days reimbursed by an employer)

Number of Days you were unable to work due to caring for a family member who was quarantined due to COVID or caring for a child due to the closure of a childcare facility / school

Estimated tax vouchers paid for the current year
Self-employment tax
Self-employment SEP plans
Self-employed health insurance
K-1s on all partnerships
Receipts or documentation for business-related expenses
Farm income

Deduction Documents

State and local income taxes (note: $10,000 limit, as last year)
IRA, Keogh and other retirement plan contributions
Medical expenses
Other miscellaneous deductions

An important thing to understand is that we will guide you through the process, and that although much has changed this year, we are on top of these updates on your behalf.

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