All required forms can be completed on-line. Simply fill in your answers and press “submit” at the bottom of each page/form. 
If you would like to print out the page/form, simply right click and select the print option. 

Individual Tax Return Checklist

 

We prepared this CHECKLIST as a guide for our clients to use as they prepare to have their individual tax returns completed by our firm.

The CHECKLIST is not to be understood as anything other than a guide as tax laws and requirements can and will change from time to time.

Each tax client is ultimately responsible for the accuracy and completeness of the tax returns prepared and filed with the IRS and state governments. Therefore, it’s in the tax client’s best interest to be as complete and as detailed as possible when working with your tax preparer. It’s always a good idea to jot down notes about any matter that may have a tax consequence and to discuss these matters with your tax preparer. If you are unsure about something, just ask.

When you have finished reviewing this list carefully and have pulled together all of the related documents and forms that your tax preparer will need, upload those documents to the secure document sharing file. Don’t send any confidential or sensitive information by email attachment. Tax information not uploaded to the secure document sharing file will not be included in your tax document file and may not be included as received for purposes of preparing your tax returns by our firm. MK&A takes no responsibility for any information submitted outside of the secure document sharing file set up by MK&A for your convenience and security. Your tax preparer will use the forms, documents and information that you provide to prepare your tax returns. Please do not assume that your tax preparer will know or understand anything about your personal situation unless you make him/her aware of it, in writing.

When the tax returns are prepared for your review, please look them over carefully before you sign them. Your signature on the tax return indicates that it is truthful, complete and accurate. Ultimately the tax client is responsible for any errors and omissions that may be found after the returns are filed that you did not make your tax preparer aware of in writing.

 

Required For MK&A To Prepare Your Tax Returns

___ Prior year tax return (required for all new clients)

___ Copy of a driver’s license or state ID (required for all new clients)

 

Check List For Basic Information

___ W-2s
___ 1099-MISC
___ 1099-R
___ 1099s for interest and dividends
___ 1095-A Health Insurance Marketplace Statement (if applicable)
___ Brokerage statements
___ K-1s from S corporations or partnerships
___ 1098 reporting mortgage interest
___ SSA-1099 Social Security or Railroad benefits including Medicare B and D premiums
___ 1099G, W-2G
___ Real estate tax bills
___ Personal property tax bills
___ Purchase and sale agreements for real property
___ Refinancing statements

Check List For Special Situations

___ Check social security numbers, address
___ Dependent changes--births, deaths, etc. rules on dependents
___ Birth dates of taxpayers and dependents
___ Telephone numbers
___ Dependent information including social security no., months lived with taxpayer, child care expense
___ Change in marital status
___ Taxpayer or spouse disabled in 2016
___ Death of taxpayer or spouse
___ Child under age 19 or full-time student under 24 with investment income greater than $2,100
___ Noncustodial parent
___ Dependents not U.S. citizens or residents
___ Adoption expenses
___ Changes to Federal or state prior year tax returns
___ Member of Armed Forces
___ Changes to prior year returns that require filing amended return
___ Foreign financial accounts (includes signature authority)
___ Reporting of specified foreign assets
___ Grantor or transferor of foreign trust
___ Gifts over $14,000 or gift to trust (gift tax return may be due)
___ Gifts to/from foreign individuals
___ Reporting of income and deductions in respect of decedent
___ Payment made to an individual for domestic services
___ Employer stock bonus plan
___ Start a business or buy an interest in partnership, LLC or S corporation? 
___ Live in a federally declared disaster area?
___ Purchase a rental property or rent owned property for first time?
___ Vacation home purchase?
___ Engage in a like-kind exchange of property
___ Sell property (real or personal) using installment sale
___ Provide over half support for another person? (Check the rules for older dependents)
___ Rollover of IRA distributions
___ Distributions from IRAs, other qualified plans before age 59-1/2
___ Tip income not reported to employer
___ Casualty or theft losses
___ Non-business bad debts
___ Proceeds from Series EE or I Savings Bonds purchased after 1989 used for higher education expenses
___ Moving expenses
___ Paid alimony?
___ Received alimony?
___ Purchase fuels for non-highway use?
___ Foreign earned income exclusion
___ NOL (net operating loss) carryforward
___ Farmer or fisherman income averaging
___ Loans to/from related party (including business entity)
___ Filing required in other than home state (rental property, partnership or S corporation, etc. in another state)
___ Repayment of First-Time Homebuyer Credit
___ Full year health insurance coverage; check box line 61, Form 1040, shared responsibility payment if not covered

Checklist for Income

W-2 Information

___ Wages
___ Federal tax withheld
___ Social security and medicare wages and withholdings
___ Social security tips, allocated tips
___ Advance EIC payment
___ Nonqualified plans
___ Covered by pension plan?
___ State income different than federal
___ Box 12 amounts, codes
___ Box 14 amounts, codes
___ State and local withholdings
___ Disability withholdings
___ Employer provided dependent care
___ Moving expenses
___ State disability payments
___ Forfeiture of flexible spending account

1099-R 

___ Gross distribution
___ Taxable amount
___ Amount rolled over to traditional IRA
___ Amount rolled over to Roth IRA
___ Federal tax withheld
___ State tax withheld
___ State income exclusions
___ Capital gain included
___ Nontaxable contributions
___ Net unrealized appreciation in employer securities
___ IRA/SEP/SIMPLE check box
___ Penalty for early distribution
___ Tax on lump-sum distributions
___ Excess contributions
___ State income/tax withheld
___ Differences for state purposes
___ Distribution received as beneficiary
___ Public service employee
___ Payments made to ex-spouse under qualified domestic relations order (QDRO)

1099-INT

___ Interest income
___ Early withdrawal penalty
___ Savings bond or Treasury interest (generally nontaxable for state)
___ Investment expenses
___ Federal/state income tax withholding
___ Foreign tax paid, country, sources
___ Tax-exempt interest
___ Private activity bond interest
___ Tax-exempt interest attributable to state of residence
___ Nominee interest
___ Community property allocation
___ Compare interest to prior year

Other Interest Data

___ Seller financed mortgage interest
___ Nominee interest
___ Amortizable bond premium
___ Original issue discount (OID)
___ Bond premium on Treasury obligations
___ Bond premium on tax-exempt bonds
___ Accrued interest adjustment
___ Check boxes Part III, Schedule B, if more than $1,500 interest or dividends, foreign account

1099-DIV 

___ Total ordinary dividends
___ Qualified dividends, holding period
___ Total capital gain distributions
___ Unrecaptured Sec. 1250 gain
___ Section 1202 gain
___ Nondividend distributions
___ Federal/state income tax withheld
___ Foreign tax paid, income, country source, type of income
___ Investment expenses
___ Cash/noncash liquidation distributions

Other Dividend Data

___ Percentage/amount from U.S. Treasury obligations (exempt for state purposes)
___ Collectibles (28%) gain
___ Dividends exempt from federal tax (state and local obligations)
___ Exempt dividends subject to alternative minimum tax
___ Dividends subject to alternative minimum tax (AMT)
___ Portion of dividend exempt from tax in state of residence
___ Nominee dividend
___ Restricted stock dividend
___ Compare dividends to prior year
___ Holding period on nondividend distributions
___ Community porperty allocations

1099-B Proceeds from Broker and Barter Transactions 

___ Date of sale or exchange
___ Stocks, bonds, etc. gross proceeds
___ Reported as gross proceeds or gross proceeds less commissions
___ Federal income tax withheld
___ Number of shares
___ Classes of stock
___ Description (security name)
___ Basis reported by broker
___ Basis reporting code
___ Basis for mutual fund shares
___ Profit or loss realized (closed futures or foreign currency contracts)
___ Aggregate profit or loss
___ Wash sale
___ Personal use property
___ Expired option purchased
___ Expired option granted
___ Worthless security
___ Nontaxable dividends; reinvested dividends; basis adjustments
___ Original issue discount; computations
___ Qualified small business stock (Sec. 1244) loss?
___ Gain on sale of small business stock (Sec. 1202) qualify for exclusion
___ Collectibles 28% gain
___ Sale of home where gain taxable; computing gain; carryover basis
___ Gain from Forms K-1 (partnerships, S corporation, estates, trusts)
___ Sales of business property; Sec. 1231 5-year recapture; depreciation recapture
___ Different basis for regular and AMT tax
___ Basis adjustments to reported amounts
___ Capital loss carryforward from prior year
___ Election to roll over gain on qualified small business stock
___ Forced or involuntary conversion of livestock
___ Like-kind and related party exchanges
___ Sale of bonds with market discount
___ Incentive stock options; alternative minimum tax
___ Nonqualified stock options
___ Employee stock purchase plan
___ Adjustment for contingent payment debt
___ Short sales? Date closed?

Other Income 

___ Social Security and Railroad Retirement benefits
___ State and local tax refund
___ Unemployment compensation
___ Conversion of regular IRA to Roth
___ Recovery of bad debts previously deducted
___ Bartering income not reported elsewhere
___ Canceled debt income
___ Distributions from HSA, Archer MSA, Medicare Choice MSA
___ Alimony
___ Jury duty income
___ Unreported tips
___ Disability income
___ Rental income from personal property
___ Scholarship and fellowship income
___ Rebates of property taxes 
___ Medical insurance recovery
___ Gambling income, lottery winnings
___ Election monitor
___ Executor fees
___ Alternative Trade Adjustment Assistance
___ Agriculture payments
___ Sec. 409A income (deferred compensation)
___ Recapture prior year tuition and fees deduction
___ Hobby income
___ Disaster relief payments
___ Damage or injury awards? For physical injury?
___ Rebates of amounts deducted in previous years

Check List For Deductions Toward Adjusted Gross Income

___ Self-employed health insurance (including children under age 27)
___ Contributions to deductible IRA (limits $5,500; $1000 catchup; qualified to deduct)(check limits with other plans)
___ Contributions to nondeductible IRA
___ Contributions to SIMPLE (self-employed)
___ Contributions to SEP
___ Contributions to Keogh
___ Health Savings Account
___ Interest on student loan
___ Medical Savings Account
___ Educator expenses 
___ Business expenses of reservists, performing artists
___ Penalty on early withdrawal of savings
___ Tuition and fees deduction
___ Domestic production activities deduction

Check List For Itemized Deductions

Medical 

___ Medicare B insurance premiums
___ Medicare D insurance premiums
___ Health insurance premiums
___ Long-term care insurance (deductible varies by age bracket)
___ Prescription medications
___ Prescription medical equipment and supplies
___ Qualified long-term care premiums
___ Self-employed health insurance premiums (not deductible on 1040)
___ Doctors out-of-pocket (co-pays, etc.)
___ Dentists out-of-pocket
___ Physical therapists
___ Eyeglasses and contact lenses and supplies
___ Hospital, clinic out-of-pocket
___ Ambulance fees and medical transportation
___ Miles driven for medical purposes
___ Lodging (see rules)
___ Modifications to residence for disabled person
___ Reduction for reimbursed amounts

Taxes

___ State (and local) income taxes withheld 
___ State (and local) estimated taxes paid (include 2015 refund applied)
___ State (and local) income taxes paid with 2015 return
___ Real estate taxes paid on principal residence
___ Real estate taxes paid on additional home personal purposes
___ Personal and excise property taxes (based on value)
___ Auto registration fees based on value of vehicle
___ Sales tax paid (if not deducting income taxes; table amount plus large purchases; actual amount)
___ Sales tax on vehicle, boat 
___ Foreign taxes paid (if not taken as credit)

Interest 

___ Home mortgage interest for purchase of principal residence; $1 million debt cap 
___ Home mortgage interest for purchase of second residence; definition of residence; boat; RV
___ Home loan for home improvements
___ Increase in debt on refinancing
___ Home equity loan (principal limit $100,000)
___ Points to purchase a home
___ Amortizable points on refinance of home loan or home equity loan
___ Seller financed mortgage (special information requirement) 
___ Qualified mortgage insurance premiums
___ Allocation of interest, residence, business, investment, personal nondeductible
___ Loan to related party? Below market interest?

Gifts to Charity 

___ Cash gifts (acknowledgment over $250; proof all amounts)
___ Noncash gifts
___ Noncash over $500 total
___ Qualified charity check entity 
___ Carryover from prior year
___ Mileage driven for charity
___ Parking fees, tolls, local transportation, uniforms, other out-of-pocket
___ Reduction for amount received from charity; dinners; tickets
___ Auto contributed
___ Contributions of property $5000; groups of similar property

Casualty Losses 

___ Definition of casualty loss
___ Special rules for losses in federal disaster areas
___ Safe harbor loss computation 

Miscellaneous Deductions 

2-Percent Floor

___ Unreimbursed employee expenses (e.g. job travel, meals, etc.)
___ Union dues
___ Job related education
___ Professional dues and licenses
___ Business liability insurance
___ Job search expenses
___ Educator expenses over the $250 limit
___ Research expenses of college professor
___ Tools used in your work
___ Work clothes and uniforms 
___ Investment expenses 
___ Appraisal fees to figure casualty loss
___ Tax preparation
___ Credit/debit card convenience fees for paying income taxes
___ Excess deductions of an estate
___ Legal expenses (restricted)
___ Safe deposit box rent
___ Service charge on dividend reinvestment plan
___ Trustee's administrative fees for IRA (paid separately)
___ Impairment-related work expenses handicapped individual

No 2-Percent Floor

___ Amortizable premium on taxable bonds
___ Casualty/theft losses on income producing property
___ Federal estate tax on income in respect of decedent
___ Gambling losses up to amount of winnings
___ Disability related work expenses
___ Losses from Ponzi-type investment schemes
___ Repayments of more than $3,000 under a claim of right
___ Unrecovered investment in an annuity

Schedule C

___ Ownership-taxpayer or spouse
___ Employer ID
___ Business code
___ Business address
___ Disposed of in current year
___ Accounting method
___ Required 1099s filed
___ Material participation, at risk
___ Qualified disaster area 
___ Sales (before/after sales tax)
___ Gross receipts/1099-MISC/1099-K/statutory employee
___ Inventory withdrawn for personal use
___ Purchases, labor costs, materials and supplies, other costs
___ Advertising
___ Car and truck expenses/
___ Commissions and fees
___ Contract labor
___ Depreciation, Sec. 179 deduction, equipment purchases 
___ Employee benefit programs
___ Insurance (not health)
___ Pension and profit-sharing plans (not for owner)
___ Mortgage interest
___ Interest
___ Legal and professional
___ Office expenses (include bank charges, postage, cleaning, etc.)
___ Rent or lease-machinery and equipment
___ Rent or lease-other property
___ Repairs and maintenance (not improvements)
___ Supplies not in cost goods sold
___ Taxes and licenses (employer's share of FICA, state and federal unemployment tax, personal property, etc.)
___ Travel 
___ Meals and entertainment (subject to 50% rule and not subject separate lines)
___ Utilities (include cell phone, telephone, internet)
___ Wages (gross)
___ Long-term contract reporting rules
___ True lease or purchase
___ Equipment purchases
___ Software 36-month amortization
___ Autos-lease inclusion amount
___ Federal-state depreciation differences
___ Home office expenses
___ Carryover home office expenses
___ Listed property personal use questions
___ Mileage, personal use questions
___ Disabled access credit
___ Casualty losses
___ Work opportunity credit; qualified veteran
___ Domestic production activities deduction 
___ Small employer health care credit
___ Hobby loss rules
___ Sale of all or part of business
___ Abandonment of assets

Schedule SE

___ Self-employment income tax--Sole proprietors, LLC members, partners
___ Long-form if FICA also withheld from paycheck
___ Employed and self-employed limit

Schedule E

Rental Activity 
___ Royalty income
___ Rental for 14 days or less
___ Main home, second, full rental
___ Type of property; rental to related business
___ Days rented/available for rent/personal use
___ Days spent working on property
___ Property disposed of during year
___ Income; 1099-MISC; 1099-K
___ Real estate professional; material participation
___ Grouping
___ Active participation
___ Qualified joint venture (QJV)
___ Amount at risk
___ Passive loss carryforwards
___ Gross rent-expenses paid by tenant
___ Advertising
___ Commissions
___ Auto/Form 4562/recordkeeping
___ Travel including auto (standard mileage or actual)
___ Cleaning
___ Legal and professional
___ Insurance
___ Management fees
___ Association fees
___ Mortgage interest (including points)
___ Non-mortgage interest
___ Grounds maintenance
___ Property taxes
___ Other taxes including personal property, employee FICA
___ Utilities
___ Supplies
___ Repairs and maintenance
___ Net lease
___ Treatment of leasing costs; cancellation of lease
___ Depreciation (27.5 yr. residential rental/39-yr nonresidential/5-yr carpets, appliances, furniture/7-yr office furniture)
___ Passive activity loss limitation

S Corporations, Partnerships, Trusts

___ Amount at risk
___ Passive/Nonpassive/limitation on losses
___ Material participation rules
___ Passive loss carryforwards
___ Basis, at-risk loss limitation/carryforward
___ Repayment of debt to shareholder rules
___ Activity grouping
___ Separately stated items/income/credits
___ Interest expense to carry investment
___ Section 179 deduction
___ LLC-partnership (multiple member) or Schedule C (single member)
___ Basis
___ Treatment of interest on debt-financed distributions from S corporations, LLCs, etc.
___ Separately stated activities
___ Taxability of distributions-nontaxable, ordinary income, capital gain, dividend
___ Loans to/from business
___ Trust-list

Alternative Minimum Tax

___ Miscellaneous itemized deductions
___ Tax deduction Schedule A line 9
___ Medical/dental expenses (addback for those born before 1/2/1951)
___ Tax refunds line 10/line 21 Form 1040
___ Depreciation adjustment (+/-) Schedule C, S corporation, partnership, etc.
___ Other adjustments from S corporations, partnerships, trusts
___ Interest adjustment for home mortgage
___ Exercise of incentive stock options
___ Depletion
___ NOL deduction adjustment
___ Private activity bond interest
___ Long-term contracts (business)
___ Passthroughs from S corp./Partnerships
___ Passive activity differences regular vs. AMT
___ Sale of asset AMT vs. regular basis
___ Excludable gain from small business stock
___ Credit for prior year minimum tax

Net Investment Income Tax

___ $125,000 (married, separate)/$200,000 (single, head of household)/$250,000 (married, joint) modified adjusted gross income threshold
___ Interest, dividends
___ Annuities from nonqualified plans (distribution code "D")
___ Net income from rental real estate, royalties, partnerships, S corporations, trusts (passive activities)
___ Adjustment for nonpassive income
___ Disposition of entire interest in passive activity
___ Grouping of passive activities
___ Net gain or loss from disposition of property
___ Net gain or loss from disposition of property not subject to net investment income tax
___ Required statements
___ Deferred recognition sales (installment sales and private annuities)
___ Distributions from estates and trusts
___ Sec. 1411 net operating loss (NOL)
___ Self-charged interest
___ Form 1065/1120S/1041 Schedule K-1 modifications
___ Form 8814 election (child's investment income)
___ Investment expenses allocable to investment income
___ State/local/foreign income taxes allocable to investment income
___ Miscellaneous investment expenses
___ Additional modifications

Employee Business Expenses

___ For employees with job-related business expenses
___ Parking fees, tolls, and local transportation
___ Travel expenses away from home
___ Meals and entertainment expenses
___ Business gifts ($25)
___ Education
___ Home office expenses
___ Trade publications
___ Depreciation not vehicle
___ Reimbursements other than meals and entertainment
___ Reimbursements meals and entertainment
___ Qualified performing artist/National Guard/Reserve members
___ Vehicle information
___ Evidence to support deduction, written

Home Office

___ Area exclusively for business
___ Simplified method ($5 per square foot; limit $1,500)
___ Multiple business, multiple forms
___ Principal place of business/inventory storage/no other fixed location
___ Separate structure
___ Daycare rules
___ Mortgage interest
___ Real estate taxes
___ Mortgage insurance
___ Insurance
___ Rent
___ Repairs and maintenance
___ Utilities
___ Direct vs. Indirect expenses 
___ Carryover operating expenses, casualty losses and depreciation
___ Depreciation of home and improvements
___ Basis in home (first year of use; value of land)
___ Depreciation recapture on sale
___ Special rules daycare providers

Child and Dependent Care Expenses

___ Provider information-name, address, ID, amount paid
___ Paid to allow employment
___ Qualifying expenses
___ Age under 13
___ Dependent care benefits received
___ Disabled spouse/relative

Energy Credits

___ Insulation, exterior doors, windows, skylights, special roof
___ Furnace, hot water heater, blower motor, air conditioner
___ Solar electric, wind power, solar water heating, geothermal
___ Lifetime limits; $500; $200

Home Sale

___ $250,000/$500,000 gain-2 out of 5 requirement
___ Other gain excluded within 2 years; special circumstances
___ New/former spouse rules
___ Sale for employment, health, etc. reasons
___ Business or rental use of residence post May 6, 1997
___ Sale on installment basis
___ Purchase price of home sold-less postponed gain on prior home
___ Additions to basis include improvements, settlement fees and closing costs on purchase
___ Commissions and selling expenses
___ Acquired in like-kind exchange
___ Report on Form 8949
___ Points remaining on mortgage
___ Deceased spouse


List of Forms 1099 and 1098

___ 1095-A Health Insurance Marketplace Statement
___ 1098 Mortgage Interest Statement (interest paid)
___ 1098-C Contributions of Motor Vehicles, Boats, and Airplanes
___ 1098-E Student Loan Interest (paid)
___ 1098-T Tuition Statement (paid)
___ 1099-B Proceeds From Broker and Barter Exchange Transactions
___ 1099-C Cancellation of Debt (income)
___ 1099-CAP Changes in Corporate Control and Capital Structure
___ 1099-DIV Dividends and Distributions (dividends received)
___ 1099-G Certain Goverment Payments (unemployment compensation, state and local refunds, taxable grants
___ 1099-INT Interest Income (interest received)
___ 1099-K Merchant Card Third-Party Network Payments
___ 1099-LTC Long-Term Care and Accelerated Death Benefits
___ 1099-MA Mortgage Assistance Payments
___ 1099-MISC Miscellaneous Income (generally nonemployee compensation, rents, and royalties)
___ 1099-OID Original Issue Discount
___ 1099-PATR Taxable Distributions Received From Cooperatives
___ 1099-Q Payments from Qualified Education Programs (e.g., 529 plans)
___ 1099-R Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts
___ 1099-S Proceeds from Real Estat Transactions
___ 1099-SA Distributions from an HSA, Archer MSA, or Medicare Advantage MSA
___ 3921 Exercise of Incentive Stock Options
___ 3922 Transfer of Stock Acquired Through and Employee Stock Purchase Plan
___ 5498 IRA Contribution Information
___ 5498-ESA Coverdell ESA Contribution Information
___ 5498-SA HSA, Archer MSA, or Medicare Advantage MSA Information (contributions to)

By my signature, I acknowledge that I have read, understand, and agree to the policies, terms, conditions and procedures as outlined on this document. By signing this Acknowledgement, I agree that my electronic signature is the legally binding equivalent to my handwritten signature. Whenever I execute an electronic signature, it has the same validity and meaning as my handwritten signature. I will not, at any time in the future, repudiate the meaning of my electronic signature or claim that my electronic signature is not legally binding.
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