Here is a list of common of these tax forms needed to prepare a tax return (some may not apply to you)

Common Tax Forms

To help navigate the numerous forms here is a list of what you can expect to receive.

1099 INT: This is the form you receive for interest earned. You should expect one of these for every bank account that pays interest, no matter the dollar amount of interest.

1099 DIV: This form captures dividends paid to you. Correct classification of dividends on this form is crucial. Tax rates are lower for qualified ordinary dividends versus other types of dividend payments.

1099 B: You will receive this form if you sell stocks or mutual funds. This tells the IRS to look for possible taxable investment sales.

1099 MISC: This is the default catch all 1099 for income earned when you are not an employee. This form is provided to independent contractors and attorneys for gross compensation. If you are a sole proprietor, each of your customers that are billed over $600 should be sending you one of these forms.

1099 R: You will receive this form if you have distributions from a qualified retirement account during the year.

1099 G: This form captures governmental payments to you. You may receive one of these if you receive a state tax refund.

1099 SA: This form captures distributions from health reimbursement accounts like HSA's and MSA's.

K-1: Reports Partnership, S Corporation, LLC, Trust, & Estate income.

Form 1098: Reports mortgage interest that you paid to your mortgage company.

Forms 1095-A & 3895 - These only apply to those who purchase health insurance through the exchange (in California the exchange is Covered California).

Forms 1095-B & 1095-C - These forms report information about your health insurance for the prior year.  These forms are not mandatory for me to prepare the returns (especially if you knew that you had health insurance coverage all last year).

For those who are Self-employed

Form 1099-MISC

The Form 1099 is an informational tax form that captures economic activity that is then reported to you and the tax authorities. The primary purpose of the form is to ensure you are reporting your taxable income. The forms are typically required to be sent to you on or before January 31st each year. The same information is due to the IRS on or before February 28th (March 30th if the form is filed electronically).

1099 NEC

Nonemployee compensation is reported to taxpayers on Form 1099 NEC. In prior years, this income was reported in box 7 of form 1099 MISC. So if you are a consultant or work for Uber or any other gig economy job, you will need to look for this form.

1099-K

Reports payments that credit card companies processed on a businesses behalf.

What you need to know:

  • Create a checklist to confirm receipt forms needed. Missing form's is a common reason for a delay in filing your tax return.  If you are a continuing client, your organizer is a good "list" to use.

  • There are other types of form's. If you receive a form and are not sure what the form is, please include it as well.

  • When you receive a form, double check the accuracy of the form. If there are errors, please let us know.  Also try to get them corrected as soon as possible (e.g. wrong dollar amount reported to you, wrong tax id reported on the form, etc.).

Remember, the IRS receives these forms. Their computers will run a cross-check against your return to ensure you have not omitted any of them.