Most Commonly Forgotten Items

Here are the top things that clients tend to overlook when sending me their tax information:

  • Health Savings Account 1099-SA. If you spent funds out of a Health Savings Account for any purpose, including qualified medical expenses, it has to be accounted for on your tax return. If you’ve signed up for paperless statements with your HSA bank, you’ll likely need to log into your account to download the 1099-SA. (To confuse matters, there is no 1099-SA and no reporting requirement for healthcare FSA accounts. Just HSA’s.)
  • Childcare provider details. Even if you were reimbursed via a dependent care FSA, the tax return requires the name, address, tax ID#, and amount paid, for each provider.
  • Noncash charitable contribution details. If you gave away more than $500 worth of stuff during the year, the IRS wants details. See my checklist for details.
  • Student Loan Interest 1098-E. Easily overlooked.
  • Closing Disclosure. If you took out a new home loan, or refinanced your mortgage, I generally need to see a copy of the Closing Disclosure. If you don’t have that or don’t know what it is, ask your broker (or loan originator) to send you a pdf copy.
  • 1099-R for tax-free rollovers out of a 401(k) or 403(b) plan. The 1099-R is issued to you by the institution the funds were rolled out of, not into. It’s often sent to you at the time of rollover, not at tax time, so it’s understandable that these can get misplaced.
  • ‘Consolidated’ 1099 for investment accounts. I think people forget about these because they’re often only made available via download, rather than mailed to you in hard copy. Also, if you transfer an investment account mid-year, there will generally be two 1099’s, one from each financial institution.
  • 1095-A for health insurance purchased via the federal marketplace. Available for download from (I don’t need 1095-B or 1095-C forms for employer-sponsored insurance.)
  • 1099-INT for interest earned on bank accounts, if more than $10.
  • Bank account info for direct deposit of your refund, if your bank account has changed since last year.