Feb 12, 2010 from
Anonymous
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what are the things i need to get together for a long form
I've already tried...
I need a Itemize list of things to get together for the year of 2009 thank you please help
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About the Expert
Paul Thode has many years of experience preparing taxes. In addiion he has many years of accounting experience, ranging from Assistant Controller to Chief Financial Officer of a publicly traded company. He has a Bachelors in Managerial Economics from the University of California, Berkeley. He has a Master's in Accounting from Golden Gate University. He has an MBA in Finance from Golden Gate University. View Profile
There can be a lot, or maybe not so much.
Often when people refer to the long form, they mean using schedule A for itemizing.
What you need for that is your W2, a total of medical expenses (including insurance) if more than 7.5% of your income.
Taxes paid like property taxes, or any other tax based on the value of the property.
Mortgage interest .. make sure if you have more than one loan to include all of them. If you refinanced during the year you should have your closing statement for possible deductions.
Contributions, two types .. CASH .. you need a cancelled check or a receipt from the organization ( like a tithe statment from a church) and then there are NON CASH, this covers what you give to Goodwill type organizations .. you can take a deduction for up to $250 without a receipt, between 250 and 500 you need a receipt and if over 500 then a separate form 8283 has to be filled out.
The last part has more or less the odds and ends.. employee expenses, like union dues, work clothing, tools purchased, etc
Fees paid for tax prep go here
If you have gambling winnings you can deduct up to that amount if you can document your losses..
If you have rentals, you need all the info regarding income and expenses..
same thing for small business ..
And there are many other reasons, but less common than what I mentioned here.
Best regards,
Paul
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