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What Documents are Necessary to File Taxes?

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April 25, 2017
Core Group US
Tax Advice

Filing taxes requires access to information from a number of different sources, so it is crucial to keep track of these documents throughout the year. Failing to provide the correct information can have serious consequences, so if you have questions about what records you need to file your taxes, it is critical to speak with an experienced tax preparation professional as soon as possible.

Income-Related Documents

In order to accurately and fully complete your taxes, you’ll need access to all of your income-relate documents, including:

W-2 Forms for information related to wages, salaries, tips, and withheld income
Dividend statements
Records from the sale of stocks
Records from the sale of real estate
Income from rental property
A receipt recording state tax refunds
Records of any alimony received or paid
Records of unemployment benefits
Sources of miscellaneous income

You may also need access to personal data, such as:

Last year’s state and federal tax returns
Social security numbers for yourself, your spouse, and your dependents
Keeping all of these documents in a separate file or in digital form can save taxpayers a significant amount of time during tax season.

Deductible Expenses and Tax Credits

Any expenses that could justify a deduction must also have supporting documentation. This means that you’ll need proof if you’re going to claim deductions for the following expenses:

Retirement account contributions
Educational expenses
Medical bills
Property taxes
Business-related expenses
Charitable donations
Moving expenses
Student loan interest payments
Union and professional dues
State and local taxes
If you are eligible for tax credits, you’ll also need documentation to claim them.

General Information

Aside from personal data, income-related documentation, and records proving expenses and eligibility for tax credits, taxpayers are often required to reference or submit general information, such as:

A copy of last year’s tax return
The names, birthdate, and Social Security numbers of any dependents
The adjusted gross income from the prior year
Routing transit numbers for direct deposit
Bank account numbers

Schedule a Consultation With a Tax Preparation Professional Today

Filing taxes is much simpler when you have all of the necessary documentation at hand. If you have questions about what documents you need to submit when you file taxes or if you need help finding certain information, please contact one of the experienced tax preparation professionals at our CORE Oklahoma City office by calling 405-288-1206 today. A member of our Lawton team is available at 580-353-2376, while a Tulsa team member can be reached at 918-209-3441.

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