The handy checklist will cover the documents and other information needed by most people to file their federal income tax return. Just pick the categories that apply to you, and then start pulling together the necessary information. When you’re ready to prepare your tax return using TurboTax software, you’ll be surprised at how much time you’ll save by organizing your information beforehand. Based on your unique tax filing situation, a personalized list of tax documents you will need to prepare your tax return is created. This include tax forms, documents, and data that will be required to submit all information required by the IRS.

With TurboTax you can enter your W-2 both manually and via automatic import turbotax checklist from over a million employers. Security Certification of the TurboTax Online application has been performed by C-Level Security. Answer simple questions and TurboTax Free Edition takes care of the rest. You’ll need some personal information about you and your family members.

TurboTax is Accepting 2013 Tax Returns Now

Use this simple tax preparation checklist to help you gather all important information and documentation ahead of time. From income sources to credits and deductions, we’ll walk you through everything you need to get organized and ensure you’re prepared to file your taxes. Before you begin working on your personal income tax return, it’s a good idea to collect and organize your tax documents and related records. The tax preparation checklist below will help you keep track of the information you’ll need (check out the PDF version of the Tax Preparation Checklist).

Things You Need to Know About Filing a Tax Extension

If you have income from self-employment, you’ll also need to make a list of all the business deductions that you have to ensure you minimize your tax liability. The best thing you can do for your business is to maintain accurate and organized records of all your financial transactions. From income to expenses, invoices, receipts, and bank statements, detailed records simplify the tax preparation process. When filing taxes, it’s important to have records of any asset purchases or leases. When you start a business, make sure to keep invoices, contracts, and payment records so you can accurately report these transactions. Proper documentation is key for tax filing to ensure you have a paper trail for anything you’re trying to claim.

Oh The Places You Can File Your Taxes From Your Phone

If you find yourself in this situation, read on, and we’ll lay it all out for you. Keeping a detailed checklist is a great way to stay organized and keep track of what deductions you may be eligible for. With TurboTax Live, you can connect with tax experts for personalized advice and even have them review or file your return or do everything on your behalf. Tax professionals can also provide tailored advice based on your business’s unique needs and situation. If you’re looking for a blend of convenience and expert assistance, TurboTax Live Business offers the best of both worlds. This may go without saying, but be sure to keep your business and personal expenses separate.

Keep detailed records

These days, filing your taxes is easier than ever, especially since you can meet with a TurboTax Live tax expert — but there are still documents to gather for tax prep. For example, if your AGI is $50,000, the first $3,750 of qualified expenses (7.5% of $50,000) don’t count. If you had $5,000 of unreimbursed medical expenses in 2024, you would only be able to deduct $1,250 on Schedule A. In addition, you can only deduct unreimbursed medical expenses that exceed 7.5% of your adjusted gross income (AGI), found on line 11 of your 2024 Form 1040. As you plan to file your taxes, you may want to check which tax brackets you fall into and use that information to estimate how much you’ll owe. Figuring out which documents the IRS is expecting you to prepare for your income tax filing, and what paperwork is needed to collect the data needed for these documents can be a big chore all-in-of-itself.

• And if you want to file your own taxes, TurboTax will guide you step by step so you can feel confident they’ll be done right.
• To help you prepare your tax return, we’ve compiled the following list of qualified medical expenses.
• Use this simple tax preparation checklist to help you gather all important information and documentation ahead of time.
• Not all the items on this checklist will apply to every taxpayer, but use it as a guide to begin collecting information that’s relevant to your situation.
• If you have tax questions while you are doing your taxes, you can connect live via one-way video to a TurboTax Live CPA or Enrolled Agent and get your tax questions answered.
• With TurboTax you can enter your W-2 both manually and via automatic import from over a million employers.

There’s no reason to wait until tax time to start making sure you’ve checked all the right boxes. Here are three tips for making the most of your money when it comes to filing your 2024 taxes in 2025. TurboTax is Canada’s #1 selling tax software, trusted by millions of Canadians. Planning for tax filing involves more than just crunching numbers in the final weeks before the deadline. It requires you to consider how your tax obligations will influence your business decisions. For example, the type of entity you choose can significantly impact your liability when it comes to taxes.

• If you had $5,000 of unreimbursed medical expenses in 2024, you would only be able to deduct $1,250 on Schedule A.
• Make filing a breeze this year by gathering the right documentation ahead of time.
• Just pick the categories that apply to you, and then start pulling together the necessary information.
• You should receive this in the mail, via email, or online from your employer.
• As you review the report, highlight information you will need to prepare your tax return.
• The TurboTax Tax Document Finder is a special tool that uses a checklist to analyze your personal life situation and determine which tax documents you will need when sitting down to prepare your tax return.

Whether you’re a seasoned entrepreneur or a first-time filer, this business tax checklist will empower you with the knowledge and tools needed to succeed. If  you received unemployment income, that amount will be reported on a Form 1099-G form and will typically be sent to you by email or mail from the issuing government agency. Other payments from federal, state, or local governments are also reported on a Form 1099-G such as a state or local income tax refund, credit, or offset you may have received. One of the most important things to know about deducting medical expenses is you have to itemize deductions on Schedule A to receive a tax benefit. When filing a tax return it’s important to keep all your receipts and documents in case the CRA requests to see them at a later time.

TurboTax Online: Important Details about Filing Simple Form 1040 Returns

Free filing of simple Form 1040 returns only (no schedules except for Earned Income Tax Credit, Child Tax Credit and student loan interest). However, because of the high Standard Deduction and the 7.5% of AGI threshold requirement, it can be difficult to benefit unless you have a lot of out-of-pocket costs. If you’re single and earn below $14,600 in 2024, you might not even need to file a return.

However, there are some instances where you might want to keep tax returns and supporting documents for a longer period of time. If you’re not sure how long to keep tax returns, here’s what you need to know about tax recordkeeping. To learn what you need to have on hand, take our quiz, fill in your unique information and get your personalized results.

Intuit reserves the right to modify or terminate any offer at any time for any reason in its sole discretion. Unless otherwise stated, each offer is not available in combination with any other TurboTax offers. Certain discount offers may not be valid for mobile in-app purchases and may be available only for a limited period of time.

You can review last year’s return as a starting point, then modify the list as you remember tax-related events last year. From the filing to quarterly estimated payments, there are several key IRS deadlines you should know about. Missing a tax deadline can result in penalties, so it’s essential to make sure you’re filing and paying your taxes on time. Learn more about IRS tax deadlines, possible extensions, and other key dates you need to know as a taxpayer.