Tax Season Checklist

Tax season can be stressful, but being prepared with the right documents can make it a lot easier. Whether you’re working or retired, this cheat sheet will help you know what forms to collect and when to expect them.  Keep in mind, some of these forms may not apply to your personal situation. 

Forms You Need to Collect

If You’re Working

  • W-2 (Wage and Tax Statement)
  • Form 5498 (IRA Contributions Report)
  • 1099 Forms (For Other Income)
  • 1095-A (Health Insurance Marketplace Statement, if applicable)

If You’re Retired

  • 1099-R (Retirement Income Statement)
  • SSA-1099 (Social Security Benefits Statement)
  • Form 5498 (IRA Contributions and Rollovers)
  • 1099-DIV, 1099-INT, and 1099-B (Investment and Brokerage Income)

What These Forms Are and Their Due Dates

W-2 (Wage and Tax Statement)

  • Purpose: Shows your wages and tax withholdings for the year.
  • When You Get It: By January 31st from your employer.

Form 5498 (IRA Contributions and Rollovers)

  • Purpose: Reports IRA contributions.
  • When You Get It: By May 31st, since it includes contributions up until the tax-filing deadline (April 15th).

1099 Forms (For Other Income)

  • Types:
    • 1099-NEC: For freelance or contract work.
    • 1099-MISC: For rental income, royalties, or prizes.
    • 1099-G: For unemployment benefits or state tax refunds.
  • When You Get It: By January 31st.

1095-A (Health Insurance Marketplace Statement)

  • Purpose: If you had insurance through the ACA marketplace, this shows what you paid and any tax credits.
  • When You Get It: By January 31st.

1099-R (Retirement Distributions)

  • Purpose: Reports income from pensions, 401(k)s, IRAs, annuities, or rollovers.
  • When You Get It: By January 31st.

SSA-1099 (Social Security Benefits Statement)

  • Purpose: Shows the total Social Security benefits you received and any taxes withheld.
  • When You Get It: By January 31st.

Investment and Brokerage Forms (1099-DIV, 1099-INT, 1099-B)

  • Types:
    • 1099-DIV: Reports dividends and capital gains.
    • 1099-INT: Reports interest from banks and investments.
    • 1099-B: Reports sales of stocks or bonds.
  • When You Get Them: Usually by February 15th, but some may be delayed until March 15th.

To stay on top of things, make a checklist of these forms and check them off as you receive them. If you’re missing anything, contact your employer, bank, or the IRS for a copy. Staying organized will help you file your taxes more easily and avoid surprises!

Did You Know?

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Your financial planner will help you set priorities and achieve your money goals, without judgment or financial jargon. Know that all discussions are kept strictly confidential. This service is offered as an employee benefit with no per-session co-pays, so you can meet with a financial planner as often as you wish. Services are paid by your retirement plan or your employer.

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