General Check List for 1040 Tax Preparation Clients

These are the items requested for your tax appointment:

• Copy of prior year return if you are a new client for Horizon.
• Date of birth for taxpayer, spouse and dependents.
• W-2s and 1099s if any.
• Bring proof of health insurance coverage.
• Interest income or dividends.
• Sale of stocks, include cost of any investments sold with date.
• Schedule C businesses with income and expenses (label asset purchases with date purchased).
• Farm activity, if any (include sale of cattle or other animals).
• Rental property settlement sheets for newly acquired property.
• Rental income and expenses for each property.
• Did you refinance your home in current year?
• Any IRA contributions?  You have up to 4/15 to make one.
• Social security income if any
• Did you make any estimated tax payments to IRS or state?
• What about health insurance? How is this paid for your family? What was paid in current year?
• Who is living in your home? Dependents with date of birth .
• Did you pay educational expenses for yourself or dependent? How much?
• Did you buy a home in current year?

Itemized Deductions:

• Real estate and personal property tax
• Medical out of pocket (prescriptions, health insurance premiums, long term care)
• Medical mileage
• Contributions, include noncash donations as well
• Charitable mileage
• Mortgage interest and (mortgage insurance paid)
• Home equity interest, if any
• Any unreimbursed employee expenses

Record Retention Schedule:

Copies of tax returns	forever		Paid vendor invoices	3 years
Tax/legal correspondence	forever		Employee payroll records	3 years
Contracts and leases	forever		Depreciation schedules	forever
Real estate records	forever		Property tax returns	forever
Bank statements	6 years		Copies of paid loans	forever
Accounting records/books	6 years		Canceled checks	3 years
Employee expense records	3 years