Free Tax Preparation Task Checklist

I. Document Collection

1. Gather all income-related documents:

• W-2s (wages and salary)

• 1099s (freelance, contractor, or other non-employee compensation)

• 1098s (mortgage interest, student loan interest)

• Bank statements and dividend income records

2. Collect other financial documents:

• Receipts for deductible expenses (e.g., medical, charitable donations)

• Records of any real estate transactions or home sales

• Investment and retirement account statements

• Childcare and education expense documentation

3. Review prior-year tax returns for reference.

II. Income Verification

• Confirm total income from all sources (salary, freelance work, investment income).

• Verify self-employment income (1099 forms, invoices, and other records).

• Ensure any other sources of income are accounted for (rentals, dividends, interest).

III. Deductions and Credits

1. Identify and verify potential deductions:

• Standard vs. itemized deductions

• Medical expenses

• Mortgage interest

• State and local taxes

2. Confirm eligibility for available credits:

• Child tax credits

• Education credits (e.g., American Opportunity Credit)

• Energy-efficient home credits

• Earned Income Tax Credit (EITC)

IV. Tax Software or Forms

• Choose a tax preparation software or professional service.

• Gather required forms (e.g., Form 1040, Schedule A, Schedule C).

• Ensure all tax software settings are configured correctly, such as filing status and dependents.

V. Review and Verification

• Double-check all personal information (e.g., name, Social Security number, address).

• Verify the accuracy of income and deduction amounts.

• Cross-check any prior year tax carryovers (e.g., unused credits, losses).

• Review any special circumstances (e.g., marriage, dependents, changes in income).

VI. Filing Deadlines

• Mark tax filing deadlines (e.g., April 15th for individual returns).

• If necessary, file an extension if unable to complete taxes by the deadline.

• Confirm submission method (e-filing vs. paper filing) and ensure all payments are made on time.

VII. Final Submission

• Ensure all required signatures are included.

• Submit tax returns electronically or mail forms if filing paper returns.

• Retain copies of all documents, including filed forms and supporting documentation, for your records.

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