What Do I Need to Have My Taxes Prepared?

It is hard to believe but tax season is back! Football is over and now is the time for everyone to go through boxes, junk piles and paper stacks to find the information needed to prepare your 2017 tax return.  We want to help remind you what documents you need to drop off so that we can prepare your taxes in the most efficient manner.

The most important document we need is a completed tax planner. If you are a returning client, you should have received this in the mail in early January; please contact us if you do not have a planner.  This paper asks questions that help us make sure that any events that occurred in 2017 that could affect your tax return are addressed.

We also need the actual documents that show income. These documents would include all W2’s, all 1099’s and K1’s.  If you have a small business, rentals or farm income, we will need the total income and a list of total expenses.  You do not have to show us the actual expense receipts – you can provide just the totals.  You will need to keep these receipts in case you are audited by the IRS; they will want to see them.  We will also need the student loan interest and HSA paperwork.

On the deduction side, we need the mortgage 1098’s so that we can report the mortgage interest, PMI and real estate taxes paid. We need to know the real estate taxes paid even if you do not itemize because this is a deduction on the Indiana state return.  We also need the amount of excise taxes paid on vehicles, charitable contributions, and the total amount for medical expenses.  You do not have to provide the actual receipts for these amounts; you can write the totals on the tax planner.  If you rent, please provide the landlord’s name and address and the amount paid; this also is a deduction on the Indiana state return.  If you have child/dependent care expenses, please provide the amount paid for each dependent and the name and address of the provider along with their tax ID number.

If you or any dependents attended college in 2017, please provide us with the 1098T from the educational institution. The 1098T can be found by going to the student’s school account.  We also need proof of what you paid or borrowed to attend college. This can also generally be found on the student’ account.  The education credits can be very beneficial to your taxes.

If you purchased insurance on the Healthcare Marketplace and received a subsidy, we must have the 1095A to prepare your income taxes. You should have received this document in the mail; if you have not gotten it, you will find it on your online Marketplace account.  This document reconciles the amount you received in subsidies to your 2017 adjusted gross income.  It will determine if you received too much or too little in subsidies and will adjust your tax or refund due automatically.

If you have any questions at any time, please feel free to contact us at 260-407-5000.

We are looking forward to helping you have a seamless 2017 tax preparation experience!


Lisa Hagar


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