Managing your Request
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      What kind of records and documents will my Pro need?

      What kind of records and documents will my Pro need?

      When completing your engagement, it's important that you make your Pro aware of transactions that occurred during the year. 

      Please note that items on this list are not exhaustive and some may not apply to you. Standard documents may include the following:

      • W-2,

      • 1099,

      • K-1,

      • The prior year 1040,

      • 1040-ES,

      • Social Security Earnings statements,

      • IRA/Roth/SEP contributions,

      • Lottery/Gambling winnings,

      • Alimony paid/received,

      • Any IRS or State Correspondence,

      • Bank account investment in foreign country,

      • Stock/Mutual Fund sales or purchases,

      • HUD Statements,

      • Property taxes paid,

      • Student loan payments,

      • Scholarship and grants received,

      • Household employee information,

      • Health insurance premiums paid,

      • Information on debt canceled/forgiven,

      • Information on casualty/theft losses,

      • Charitable contributions (cash and non-cash),

      • Unemployment income,

      • Job search expenses,

      • HSA/MSA Contributions/distributions,

      • Education contributions/distributions (529 plan),

      • Moving expenses,

      • Medical expenses,

      • Business income and expenses (Trial balance if available),

      • Real Estate Income and expenses,

      • Auto business miles

      Keeping track of your expenses and miles will help when its time to claim deductions. It's not required that your Pro see all expenses, however, they may ask to see documentation on large transactions. Substantiating your expenses with documentation is highly recommended in the event of a possible IRS audit. There is no threshold amount for substantiation of these expenses.

      Best practice is to save your receipts and invoices for 7 years after they are incurred in the event the revenue department questions your deductions.