What we need to know in filling Individual tax return

When filing your individual tax return, it's important to understand the various factors that can affect your filing status, deductions, and overall tax liability. You’ll need to accurately report all sources of income, claim eligible deductions and credits, and ensure you meet IRS filing requirements. To make the process smooth and efficient, gather the following documents:

• W-2 Forms (for wages and salaries)

• 1099 Forms (for freelance, contract work, interest, dividends, and other income sources)

• Social Security Numbers (for yourself, your spouse, and any dependents)

• Proof of Identification (such as a driver’s license or passport)

• Proof of Health Insurance (Forms 1095-A, 1095-B, or 1095-C, if applicable)

• Mortgage Interest Statements (Form 1098)

• Receipts for Deductible Expenses (medical, charitable donations, and business-related expenses)

• Student Loan and Education Expenses (Forms 1098-E and 1098-T)

• Investment Income Documents (Forms 1099-B, 1099-DIV, 1099-INT)

• Retirement Contributions Records (e.g., 401(k), IRA contributions)

• Last Year’s Tax Return (for reference and to help identify any changes)

• Any Stimulus or Child Tax Credit Information (if applicable)

Having all necessary documents organized before you start ensures that your return is accurate, maximizes deductions and credits, and helps you avoid delays or errors.