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Tax Preparation Checklist


Tax time is upon us. You can make your life easier by gathering all the necessary documents to file your taxes.

Personal Information

The investment experts at First Entertainment Credit Union developed this checklist that you can use to complete your taxes.

  • Last year’s tax return, in case you need to refer to it or just as a refresher of the documents you used.
  • Social Security or tax ID numbers for yourself, your spouse, and all dependents.


Gather all the documents that show how much money you earned the previous year.

  • W2 from employers
  • Social Security
  • 1099 for self-employment
  • 1099 from pension/annuity
  • 1099 from retirement accounts
  • 1099 from investment accounts
  • 1099 from unemployment
  • K1 from trust, estate, partnership, and s-corp
  • State/city refunds
  • Rental income
  • Alimony received
  • Gambling/prize income
  • Jury duty pay
  • Sale of assets, such as stocks and real estate
  • Healthcare forms


Deductions help reduce your taxable income and documentation is the key to claiming deductions.

  • Medical and dental expenses
  • State and local taxes
  • Home mortgage interest
  • Home equity line interest
  • Moving expenses
  • Property and real estate taxes
  • Charity gifts
  • Gambling losses/expenses
  • Education expenses
  • Student loan interest
  • Child care expenses
  • Adoption costs
  • Alimony paid
  • Retirement plan contributions
  • Self-employment expenses
  • Qualifying home improvements
  • Vehicle license fees

Keep in mind that allowable deductions and the rules for applying them can change from year to year, so it’s a good idea to check the Credits and Deductions page on the IRS website. We also recommend getting advice from a tax expert on what qualifies for your particular situation.

Let First Entertainment Credit Union Help

If you have any questions regarding financial planning or investments with tax advantages, give us a call. We’re more than happy to answer all of your questions!

Michelle Lee
First Entertainment Credit Union