5 Common Tax Forms You Should Expect in the Mail

Tax season is in full swing.  Time to get your tax forms and receipts in order so you can get closer to your tax refund.  But if you’re new to filing taxes you may be wondering what tax forms you should be on the lookout for.

Here are 5 of the most common forms to look for so you can prepare your taxes:

  • W-2: You will receive a W-2 if you earned income working for an employer.   This form shows how much income you earned for the year and how much was deducted for taxes and any other withholding.
  • 1099: If you worked as a contractor or did work on the side you may receive a 1099.  There are also other versions of the 1099 form for interest earnings, dividend earnings, and other sources of income that you need to report.
  • 1098: If you own a home and have been paying mortgage interest, you will receive this form from your lender that shows the amount of mortgage interest you paid and can deduct.  It may also show property taxes you paid as well any points paid, which are both deductible.
  • 1098-E: Details your tax deductible student loan interest payments paid over $600.  If you paid less than $600 you may not receive a 1098-E, but don’t forget your interest.  You can still deduct it.
  • 1098-T:  Details tax deductible eligible education costs you paid for higher education.

There are also other pieces of supporting documents you won’t receive in the mail that you should have in front of you when you sit down to do your taxes.  Don’t forget:

  • Supporting information for tax deductions and credits: If you are eligible for tax deductions and credits, you will need to get information from supporting documents. Whether it’s information needed to claim child care or job search expenses, you will need to refer to related documents.
  • Social Security numbers for family members: In order to file your taxes, you need your social security number. You also need the correct social security numbers for your spouse, as well as for anyone you are claiming as a dependent.  If you had a baby last year make sure you have a social security number for your baby.  You will need the social security number in order to take valuable tax deductions and credits.
  • Contribution information: Don’t forget information about retirement plan contributions that may be deductible.  Also, if your state offers you a tax benefit for contributing to a 529 plan, you’ll want that for your state taxes (it doesn’t apply for your federal taxes).
  • Charitable Donations:  If you donated to charity you need proper receipts to fill out information when preparing your tax return.  You don’t have to include these receipts with your tax return, but you need to keep them for your records to prove your donations or other expenses.  Don’t forget to use TurboTax ItsDeductible to value your donations.

Once you have your documents gathered and sit down to prepare your taxes, TurboTax will make doing your taxes easy by asking simple questions about your life.

TurboTaxLisa

Lisa Lewis is a CPA and the TurboTax Blog Editor. Lisa has 15 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. Lisa also has been a TurboTax product user for many years and understands how the software program works. In addition to extensive tax experience, Lisa also has a very well-rounded professional background. She has held positions as a public auditor, controller, and operations manager. Prior to becoming the TurboTax Blog Editor, she was a Technical Writer for the TurboTax Consumer Group and worked on a project to write new FAQs to help customers better understand tax laws. She could also be seen helping TurboTax customers with tax questions during Lifeline. For Lisa, getting timely and accurate information out to customers to help them is paramount.

Comments (9) Leave your comment

  1. Let’s celebrate Cinco de Mayo with a response to this question !

    Is the mortgage interest on home equity debt (HELOC) on/secured by your first home, which was used to finance the building of your second home, all tax deductible up to the $1 million limit ?

  2. Is the mortgage interest on home equity debt (HELOC) on/secured by your first home, which was used to finance the building of your second home, all tax deductible up to the $1 million limit ?

  3. Re the 1098 Form – is the mortgage interest on home equity debt (HELOC) on/secured by your first home, which was used to finance the building of your second home, all tax deductible up to the $1 million limit ?

  4. Re the 1098 Form – is the mortgage interest on home equity debt (HELOC) on/secured by your first home, which was used to finance the building of your second home, all tax deductible up to the $1 million limit ?

  5. A Form 1099R will be sent for your pension and then Form 1099SSA for the social security benefits paid.

  6. 2013 was my first entire year in retirement – I receive a federal pension and social security – what forms do I need to file income taxes and are these to be sent my mail or via internet.

  7. CAN YOU TELL ME IF I HAVE TO PAY TAXES ON SS I AM OVER 66 BUT NOT SURE .DO WE GET A TAX FORM FROM THEM, THIS IS MY FIRST YEAR OF GETTING SS AND I STILL WORK AT MY REGULAR JOB.

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