Tax Prep Checklist

As you gear up for tax season, make sure you have your ducks in a row. Here’s a quick checklist that may make your tax prep less painful for you and for your tax preparer this year.

Items to gather prior to preparing last year’s tax return1:

  • All income reporting forms which may include:
    • W-2(s),
    • K-1(s),
    • All 1099(s) (from Custodian(s), bank(s), employer(s), etc.)
  • Detailed list (and receipts if needed) for itemized deductions such as:
    • Form 1098 to report mortgage interest
    • Closing statement if you purchased or refinanced your home last year
    • Charitable donation receipts (cash/check or non-cash donations)
    • Investment management fees
    • Unreimbursed employee expenses
    • Medical and dental expenses
  • Other forms/items that may affect you:
    • Form 5498: you may receive this form if you made any IRA, HSA, or other contributions last year
    • Form 1095-A: if you purchased health care through the Health Care Exchange, you should receive this from the Marketplace by early February
    • Tuition statements from your University
    • State income tax refunds

Planning items you might want to consider before filing your taxes:

There may still be time to help reduce your tax liability for 2014. Work with a tax professional to determine which ones are applicable and/or appropriate for your situation:

  • Contributions to a Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, or other qualified plan for the 2014 tax year can be made up until the tax deadline for 2015 (April 15th). 2
  • Contributions to an HSA for the 2014 tax year can be made up until April 15th. 2
  • Roth re-characterizations must be done by April 15th. 2
  • Removal of excess contributions to IRAs must be done by April 15th. 2

Tax time can be stressful, but it doesn’t have to be. By staying organized and on top of your finances, you’ll be able to approach tax season with confidence.


1This is not meant to be an all-inclusive list. Clearview Wealth Management does not provide tax services. Please contact your tax professional for questions pertaining to your particular situation.

2If you file your tax return prior to April 15th, any contributions, re-characterizations, or removal of excess contributions must be complete prior to filing your return.