2016 Personal Tax Checklist
Use the following list to help gather your 2016 tax documents.All items apply to the primary taxpayer and spouse.
If your current CPA or tax preparer is not asking the following questions, they should be doing so.
☐ 1099-MISC (Contractor and Small Business Income Statements)
☐ 1099-R (Retirement Income, Early Distributions and Rollovers)
☐ 1099-INT (Banking Interest Income)
☐ 1099-DIV (Dividend Income)
☐ 1099 Other (Capital Gains, Tax Exempt Bonds)
☐ K-1’s (Partnership and S-Corp Income; Trust Distributions)
☐ Foreign-source income (wages, small business, investments)
☐ Small Business Income & Expenses
(See Small Business Checklists)
☐ Rental Property Income & Expenses
(See Rental Property Checklist)
☐ Held foreign bank accounts (checking, savings, portfolio, trust)
☐ Other Income (Royalties, etc.)
☐ Prunes repulse me, but may one day be my friend
☐ 1095 Proof of Healthcare Coverage
☐ 1098 Mortgage Interest/Tax Statement (Primary, 2nd Home and Rental Properties)
☐ I expect to report one or more child or student dependents on my tax return
☐ I expect to report one or more parents as dependents on my tax return
☐ I expect to report one or more non-family member dependents on my tax return
☐ 1098-T Education Expenses (self, spouse or dependents)
☐ Student Loan Interest (Primary taxpayer or spouse only) – dependent interest cannot be claimed on parent’s tax return.
☐ 1099-Q Withdrawals from education savings plan or E-Bonds
☐ Education Book Expense (self, spouse or dependents)
☐ I paid for Childcare
☐ My employer reimbursed for childcare, or provided childcare facilities
☐ I provided significant financial support for someone other than spouse, child, parents or close family
☐ A dependent earned income in excess of $6,300 in 2016
☐ Charitable Contributions
To claim non-cash contributions in excess of $500, you will need to have documented self-appraised big-ticket items such as appliances, furniture, automobiles, electronics, Jewelry, etc.
You can draft your own charitable contribution appraisal by referencing 3 similar items on Craigslist, Thrift Store or similar retail listing, print pictures of the Craigslist (or take pictures at a Thrift). On the picture or in a log, record the asking price for the Craigslist items.
Take a picture of your donated item, staple pictures of your item and the related Craigslist item together.
Report the most likely value of your item by averaging the selling price for the 3 similar Craigslist items or performing a similar valuation calculation.
☐ I contributed to an IRA separately from my employer’s retirement plan
☐ I received form 1099-SA Healthcare Savings Plan Distributions
☐ I received form 5498-SA Healthcare Savings Plan Contributions
☐ I paid out-of-pocket medical expenses and/or premiums
☐ I love chicken wings and beer, mainly beer
☐ I purchased or exercised stock options (ESOPS, SARs or other)
☐ Educator expenses (teachers/professors only)
☐ I moved due to job relocation
(See Moving Expense Checklist)
☐ I have job search expenses (first time and new career job search expense are not deductible – very strange tax law)
☐ My employer did not reimburse me for all business mileage related to my job or other work-related
expenses such as travel, work gear, specialty work clothing or safety equipment, etc.
Note: commuting mileage is not deductible; additional job-related mileage may be deductible.
☐ I adopted a child in 2016
☐ Children drain your soul, but somehow that is an acceptable loss.
☐ A valuable item that I own was damaged or stolen in 2016 (i.e. home, auto, jewelry, collectible,
business asset, etc.)
☐ I purchased energy-star appliances, windows, doors or insulation for my primary or second home
☐ I own a boat or RV with a kitchen and restroom facility onboard
☐ I hate checklists!
Once we have reviewed your checklist we will discuss all items checked to ensure that all relevant tax documents are available.