E-File Released – Open for Business
We are excited to announce that 1040.com is officially open for business and ready to help you file your taxes the smart, simple way!
Speaking of smart and simple, we have collected a cheat sheet of tax forms and records that you should have on hand when you sit down to file your tax return. The most common forms are W-2s for employees and 1099s for the self-employed, but there are others to have on your radar.
If any of the below situations apply to you, click the links to learn more and make filing your taxes easier than ever!
Forms to look for in the mail or online
Education expenses. You?ll want to keep a lookout for a 1098-T. This tax form will list your school expense info, which you will need if you want to claim student tax breaks.
Student loans. The interest you paid on your student loans is deductible, so you?ll want to check your 1098-E for that amount.
Mortgage interest. Look for a 1098 to deduct your mortgage interest.
Gambling winnings. You?re going to need a W-2G to report your gambling winnings.
Personal records to get out
Self-employment records. Gather your bank statements, receipts and other records of business-related expenses to offset income and reduce self-employment taxes.
Daycare payments. Tally up what you paid for the year for each child to see if you qualify for the Child and Dependent Care Tax Credit.
IRA contributions. Pull any personal records of retirement contributions, because some of those amounts may be tax deductible without itemizing.
Records to claim itemized deductions
Charitable donations. Support this deduction with proof from a year-end statement from the charity, personal checkbook records or receipts. You always want to have backup.
Property and vehicle taxes. Find any official statements that show exactly how much you paid over the year.