10 Documents You’ll Forget To Give To Us

1. W-2s - Many times clients work multiple jobs or change jobs during the year. Because clients are anxious for refunds they forget one or more W-2s.
2. 1099-INT - Does your client have multiple bank accounts? Did you compare the current year 1099-INTs to the previous years Schedule B?
3. 1099-DIV – Clients buy and sell investments all year-long. Did you compare the current year 1009-DIVs to the previous years Schedule B?
4. Capital Gains/Losses – 1 in 10 returns submitted to us is missing basis information.
5. 1099-SSA – older clients often mistake these documents for other correspondence they received form the Social Security Administration. Clients will often say “I get $600 per month so just multiple that by 12”. Unfortunately, these amounts are net of Medicare premiums.
6. Tuition Deduction – Form 1099-T is often mistaken as a college financial aid document. For families with college students, we can’t calculate the deduction without the form.
7. Real Estate Taxes – clients that don’t have their real estate taxes escrowed by the mortgage lender often forget to bring the municipal tax bills with them. A quick review of the previous years Schedule A would reveal the omission.
8. Sales Tax – sales tax on autos, campers, motor homes and other large purchase are often forgotten.
9. Mortgage Interest – interest on family-financed mortgages are often overlooked because clients think they are doing the family member a favor by not reporting the interest. Also, clients that re-finance during the year sometimes forget about the previous lender.
10. Non-Cash Charitable Contributions – Clients often do not keep or lose detailed records of these types of contributions. Dates, description, name and address of the charitable organization are all necessary for proper deduction.