Wealth Insights
A Guide to Your Tax Preparation

Article

Prepare for tax season by starting with this list of important information and documents you'll need to gather.

Tax season has arrived. So, now is the time to start organizing important documents and information you’ll need to prepare your taxes. Donna M. Johnson, a Senior Vice President for Regions in St. Louis, says the following list can be useful to have on hand.

The basics:

Previous year's tax returns
Social Security numbers and dates of birth for you, your spouse, and your dependents
W-2 forms, which may not arrive until the New Year (you'll have a W-2 from each employer you’ve had this year)
Estimated tax paid
Child care records, including any child support payments

Investment information:

Capital gain, interest, and dividend income from investment accounts
Savings accounts information
Contribution records for retirement accounts such as a 401(k), IRA, or Roth IRA

Additional income:

Alimony
Taxable inheritances
Jury duty records
Gambling winnings
Distributions from Social Security, IRAs or retirement accounts
Self-employment income/deductions

Itemized deductions:

Mortgage statement from your lending institution
Records of medical expenses
Total amount of state/local income and, in some states, sales taxes
Real estate taxes
Records of cash and non-cash charitable donations to schools, hospitals, houses of faith, or other charitable organizations
Health Savings Account expenditures