![]() 31 each year, and freelancers should also get their 1099-NEC and 1099-MISC forms by then too. Companies are required by law to send W-2 forms to employees by Jan. Important tax documents like your W-2 form and 1099 forms for income should have been mailed to you by now. ![]() What should I do if I am missing tax documents like my W-2? It's the quickest way to get your tax refund - direct deposits come in three weeks or less, while paper checks in the mail take four to six weeks. Lastly, you'll need your banking account and routing numbers to set up direct deposit with the IRS. (These forms aren't sent to you.) Once again, you can also find that information in your online IRS account.Īnd if you're itemizing deductions, you'll need information such as receipts, paid bills and invoices to claim some deductions, including: If you're a freelancer paying estimated taxes quarterly, you'll need the 1040-ES forms you filed in 2022 to see how much you've already paid. If you've forgotten your PIN, lost your CPA01 Notice or both, you can use your online IRS account to find that information too. If you've enrolled in the program to prevent tax-based identity theft or have been issued an Identity Protection PIN by the IRS in a CPA01 Notice, you'll need that six-digit number to file your taxes. If you don't have a copy of your tax return from last year, you can look up your AGI with your online IRS account. Next, if you're filing taxes electronically, you'll need your adjusted gross income from last year to verify your identity. While the essential info for your return will come directly from tax forms, you'll also need to glean your own personal records for information you need to file.įirst, you'll need the full names, dates of birth and Social Security numbers (or Taxpayer Identification Numbers) for yourself, your spouse and all of your children and other dependents. What other tax forms and information do you need to file taxes? Form 1095-A can be used to claim the premium tax credit, which represents assistance for purchasing health insurance through the public marketplace as created by Obamacare (the Affordable Care Act). One other non-1098 IRS form could give you a big tax credit. ![]() And Form 1098-Q shows distributions from college savings programs like 529 plans, which aren't taxable unless they're greater than your total educational expenses. Form 1098-F shows court-ordered fines and penalties, which are not tax deductible. Form 1098-MA shows any mortgage assistance you received in 2022 and usually doesn't need to be reported. The other three 1098 forms likely won't affect your taxes much. If you donated a car, boat or plane to a qualified charity in 2022 and it was worth more than $500, you'll need a Form 1098-C from the organization that received it to claim it as an itemized tax deduction. The tuition you paid in 2022 will be included in Form 1098-T. Tuition costs for higher education are no longer tax deductible, but you might be able to get some of that money back with the American opportunity tax credit or the lifetime learning credit. Student loan interest will show up on Line 1 of Form 1098-E. However, interest on federal student loans has been paused since March 2020, so any money you claim here would need to come from private loans or older federal loans that are serviced by private lenders. Tax documents for incomeĭepending on your adjusted gross income, or AGI, you may be able to deduct up to $2,500 of student loan interest "above the line," meaning you don't need to itemize. And if you received Social Security benefits, you should have received a SSA-1099 in January, though the taxability of that money is complicated. ![]() Payments from state or local programs will be included in your 1099-G form, but most Americans won't need to report last year's state rebates. Starting in 2020, 1099-NEC is now the standard form for "non-employee compensation," while 1099-MISC is reserved for miscellaneous income like awards, prizes and rent. If you're a full-time freelancer or work for yourself, your income may show up in various 1099 forms. (You need to report earnings over $600 from those services anyway.) If you were paid via online payment services like Venmo and Cash App, you might get a 1099-K form, but it's still not mandatory for those companies to send one unless you earned more than $20,000. ![]() These forms could include interest from savings ( 1099-INT), money from freelance work ( 1099-NEC), unemployment benefits ( 1099-G) or retirement distributions ( 1099-R). For employees of companies, your Form W-2 includes your essential info about wages and salary you earned and the total amount of taxes that were withheld from your paycheck last year.Īdditional 1099 forms you receive will document other income that you earned in 2022. ![]()
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