Tax Checklist

Okay friends, its a new year with a fresh start. I hope you've recovered from the champagne hangovers and are ready to begin 2011 with a bang. You've got about one month to get your tax info organized, so here's a checklist of information you'll need:

PERSONAL
Social Security numbers (including spouse and children)	These are required to qualify for exemptions.
Your child-care provider's tax ID or Social Security number	This is critical to qualify for child care credits.
Form 8332, copies of your divorce decree, or other documents proving your right to claim a child living with your ex-spouse.	Divorce documents are on file in the court where you filed. Your lawyer should have them as well. Form 8332 is available on the IRS Web site.
EMPLOYMENT & INCOME
W-2 forms for this year	These come from your employer and must be distributed by January 31st.
Partnership and trust income	Data for these should come from an accountant or financial institution.
Pensions and annuities	Data should come from the financial institution, insurance company selling the annuity or pension fund.
Social Security Railroad Retirement Benefits	You will need Form RRB 1099 or Form RRB 1042S for nonresident alien recipients of Railroad Retirement benefits.
Alimony received	Tax information should come from your ex-spouse or his representative. Your former spouse will want your Social Security number to be able to deduct any alimony payments.
Jury duty pay	Data should come from the court clerk.
Gambling and lottery winnings	This data should come from the casino or lottery authority. Use Form W-2G.
Prizes and awards	Data should come from the award givers. Use Form 1099-MISC.
Scholarships and fellowships	Data should come from the administrators of these programs. Use Form 1099-MISC.
State and local income-tax refunds	Data should come from the taxing authorities.
HOMEOWNER/RENTER DATA
Residential address(es) for this year	This is your responsibility.
Mortgage interest	Your lender will send you this data on Form 1098.
Sale of your home or other real estate	Your lender or closing agent should send you Form1099-S.
Second-mortgage interest paid	Your lender will send you this data on Form 1098.
Real-estate taxes paid	Your county clerk or lender should send you this data, often on the same 1098 as your mortgage interest.
Rent paid during tax year	You need to keep track of this yourself- your landlord hasn't fixed your shower, I wouldn't count on their help for this.
Moving expenses	If your expenses are reimbursed by an employer, the employer will furnish you with data on the moving costs they paid for.
First-time homebuyer credit	Did you buy your first home in 2010? You will need to file Form 5405 to claim the credit. You will need data from your sale closing documents.
FINANCIAL ASSETS
Interest-income statements	Financial institutions will provide this data on Form 1099-INT & Form 1099-OID.
Dividend-income statements	This will come on Form 1099-DIV from the company paying the dividends.
Proceeds from broker transactions	Your brokers should furnish this data on Form 1099-B.
Tax refunds and unemployment compensation	The issuing agencies will send you this info in Form 1099G.
Miscellaneous income including contract or freelance work or rent	This should come from whoever distributes the income on Form 1099-MISC.
Retirement-plan distribution	Your retirement agency will send this data on Form 1099-R.
FINANCIAL LIABILITIES
Auto loans and leases, including account numbers and car value, if the vehicle is used for business	You can get this data from the lender or leasing company.
Student loan interest paid	The lender should furnish this data on Form 1098-E. You can also check on your lender's website- mine has it listed there so yours may too!
Early withdrawal penalties on CDs and other time deposits	Financial institutions should provide this data.
AUTOMOBILES
Personal-property tax information	You know how you have to renew that darn vehicle registration? Well there's a certain fee from that document that you can deduct- its called a VLF (Vehicle Licensing fee). You'll report this on your Scedule A.
Cash for Clunkers reporting	All forms should have been filed by the dealer that sold the vehicle. The credit doesn't need to be reported on your federal return. Your state may have some requirements, however.
DEDUCTIBLE EXPENSES
Gifts to charity	This data should come from the charity. Since 2007, you have new responsibilities. You will need a bank record (such as a canceled check, a bank copy of a canceled check, or a bank statement containing the name of the charity, the date, and the amount) or a written communication from the charity. The written communication must include the name of the charity, date of the contribution and the amount of the contribution. This only applies to gifts of $200 or more.
Unreimbursed expenses for volunteer work	You will need to keep your own records for this. Remember, you can deduct any driving expenses for volunteer or charitable work at the rate of 14 cents a mile.
Unreimbursed expenses related to your job	You will need to maintain this data.
Travel expenses, entertainment, uniforms, union dues, subscriptions and investment expenses	Your broker will furnish some data. Travel, phone and other related expenses are your responsibility to track.
Job-hunting expenses	You will need to keep and maintain this data.
Education expenses	You will need to keep this data. But if you qualify for Hope or Lifetime Learning credits or other college deductions, the college involved will send you the data on the qualifying expenses you've paid. If you plan to claim education deductions, you will need Form 1098-T from the institution. If you expect to deduct interest on student loans, get Form 1098-E from the lender.
Child-care expenses	You will need to keep up with your babysitter, daycare or other such expenses.
Medical savings accounts	The institution handling the account will be able to generate any data.
Adoption expenses	You will need to track this data and be able to document these expenses.
Alimony paid	You or the authority disbursing funds will need to keep this data. To deduct this expense, you will need the recipient's Social Security number.
Sales-tax expenses	If you expect to claim a sales tax deduction rather than income tax on your 2009 tax return, you will need receipts for expenses. Or you can fill out a worksheet that the IRS provides to help estimate sales tax expenses.
Tax-return-preparation expenses and fees	Your preparer can furnish this data to you.
SELF-EMPLOYMENT DATA
K-1s on all partnerships	The partnership management should generate this data.
Receipts or documentation for business-related expenses	This is data you should keep and track.
Farm income	You or an accountant should tack this information. You will need to prepare Schedule F.
DEDUCTION DOCUMENTS
Federal, state and local estimated taxes paid for current year, including estimated tax vouchers, cancelled checks & other payment records	You must keep copies of this data and track it.
IRA, Keogh & other retirement plan contributions	You can get this information from your financial institutions.
Medical expenses	You must track this data. Prescriptions, doctors visits, mileage, eye glasses, dental- all of this can be claimed IF you're itemizing.
Casualty or Theft Losses	You'll need to file a Form 4684 and enter the loss on your Schedule A.