Gathering records for tax preparation |
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Tue, 30 Jan 2007 21:01
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(AFX) - A checklist of the most common records you'll need to prepare your 2006 taxes, whether you use tax software, a professional tax preparer or a paper tax return:--Copy of 2005 tax return.--Identifying documents, such as a Social Security card or driver's license, for you and your spouse.--W-2s from all employers.--Forms 1099, 1099-DIV, 1099-R and 1099-G showing dividend and interest paid to you in 2006 as well as any refund, credit, or offset of state and local taxes.--Receipts indicating the state and local taxes, real estate taxes and personal property taxes you paid in 2006.--Form 1098 for home mortgage interest and points.--Receipts and documentation for charitable contributions and gifts (cash and non-cash).--Income receipts from any rental real estate, royalties, partnerships, S corporation and trusts.--Records of unemployment compensation, Social Security benefits or other income.--Records of medical and dental expenses if you think you can meet the 7.5 percent adjusted gross income threshold required for this deduction.--Documentation of casualty and theft losses.Remember to keep a copy of your tax return and supporting documents for at least three years from the date you file the return.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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