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Not all deductions are always eligible, so keep all your receipts for at least 3 years in case they’re needed.

Individual/Business

Documents Needed to File

Must Have: U.S ID or Passport, Social Security, ITIN, Business Tax ID

  • W-2 Wages

  • W-2G Gambling Income

  • 1099-G Unemployment Benefits

  • 1099-MISC Miscellaneous Income

  • Income and Expenses for Self-Employment

  • K-1 Statements (partnerships, trusts, small businesses)

  • 1099-DIV Dividend Statement

  • 1099-INT Interest Statement

  • 1099-B Brokerage Statements

  • Gain or Loss Statement

  • Income and Expenses for Rental Properties

  • 1099-SSA Social Security Statement

  • 1099-R Retirement Distributions

  • Income and Expenses for Alimony

EIC, EITC. CTC Credits

Documents Needed

Personal Deductions

  • State and local income taxes or general sales tax

  • Foreign income tax

  • Estimated tax payments

  • Prior year’s state and local income tax paid during the tax year

  • Real estate tax

  • Personal property tax (based on value)

  • Mortgage interest

  • Mortgage prepayment penalties

  • Points on principal residence financing

  • Mortgage insurance premiums

  • Investment interest

  • Investment expenses

  • Investment counsel and advisory fees

  • Safe deposit box rental (for investment docs)

  • Charitable contributions (cash and non-cash) to qualified charities

  • Mileage for donating goods or performing charitable services

  • Health insurance premiums

  • Long-term care premiums

  • Out-of-pocket costs (doctors, labs, dentists, hospital, eye exams, glasses, prescriptions)

  • Medical mileage

  • Employee non-reimbursed business expenses

  • Job hunting expenses

  • Fees for tax return preparation

  • Certain legal fees (if related to employment or income)

  • Casualty and theft losses

Individual

Documents Needed

Personal Deductions

  • State and local income taxes or general sales tax

  • Foreign income tax

  • Estimated tax payments

  • Prior year’s state and local income tax paid during the tax year

  • Real estate tax

  • Personal property tax (based on assessed value)

  • Mortgage interest

  • Mortgage prepayment penalties

  • Points paid on home financing (principal residence)

  • Mortgage insurance premiums

  • Investment interest

  • Investment expenses

  • Investment counsel and advisory fees

  • Safe deposit box rental (if used for investment-related documents)

  • Cash and non-cash donations to qualified charities

  • Mileage for donating goods or performing charitable services

  • Health insurance premiums

  • Long-term care insurance premiums

  • Out-of-pocket medical costs (doctors, labs, dentist, hospital, eye exams, glasses, prescriptions)

  • Medical mileage

  • Employee non-reimbursed business expenses

  • Job hunting expenses

  • Fees for tax return preparation

  • Certain legal fees (related to income or job)

  • Casualty and theft losses

Business/Self-Employer

Documents Needed

Business Deductions

  • Advertising

  • Business Cards

  • Business Publications

  • Client Gifts

  • Promotional Items

  • Signs, Flags, Banners

  • Printing

  • Website

  • Computer Expenses

  • Cell Phone

  • Internet Costs

  • Software

  • Telephone

  • Postage and Shipping

  • Clerical Help

  • Commissions Paid

  • Continuing Education

  • Outside Contractors

  • Payroll Taxes

  • Wages Paid

  • Employee Uniforms

  • Safety Equipment

  • Office Expense and Supplies

  • Office Furniture & Fixtures

  • Materials and Supplies

  • Rent

  • Parking and Tolls

  • Storage Fees

  • Tools

  • Repairs & Maintenance

  • Legal and Professional Fees

  • Insurance (Liability, Bond, Errors & Omissions)

  • E&O Insurance

  • Licenses & Permits

  • Dues & Subscriptions

  • Memberships

  • Miscellaneous Taxes

  • Business Meals

  • Customer Refreshments

  • Seminars

  • Travel

  • Bank Charges

  • Answering Service

  • Courier Service

  • Referrals

Earned Income Tax Credit (EITC)

The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may give you a refund.

To qualify for EITC you must have earned income from working for someone or from running or owning a business or farm and meet basic rules. And, you must either meet additional rules for workers without a qualifying child or have a child that meets all the qualifying child rules for you.
You can use Publication 5334, Do I Qualify for EITC? to seek more informations.

You need to file a tax return to claim EITC. Find out:

  • the documents you need
  • the common errors to watch for
  • the consequences of filing an EITC return with an error
  • how to get help preparing your return
  • what you need to do if your EITC was denied in a previous year
  • how to claim the credit for earlier tax years
  • You cannot use any income received for work performed while an inmate to claim EITC. This includes amounts for work performed while incarcerated, in a work release program, or while in a halfway house.
  • If the IRS audited you and disallowed the EITC, you may have special filing requirements and limitations.
  • You can’t claim EITC unless the Social Security number you, your spouse (if married filing a joint return) or a qualifying child is issued before the due date of the return including any valid extensions.
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