Taxpayer asks:
I just recently (December 2007) became a US Resident, I have been illegal before that, since 2002. This year will be my first year filing taxes. And I do not know how to go about it. Or what info should I have handy. Any suggestions? I did worked before I became a US Resident and was paid cash. I got my work permit in October ‘07 and then I started working at Costco. But before Costco I do not have any record of work. I did go to college for 3 years so I have the 1099’s for those years.
Any suggestions, ideas or what paperwork should I gather, let me know.
thank you so much.
Taxgirl says:
This is a great question – not just for first-time filers but for all folks who will file a tax return…
Here’s what you should have handy when preparing your return (or visiting a tax preparer):
- Driver’s License or other ID
- Social Security number
- Social Security number, birthdays and full names of any dependents
- Your prior year federal and state income tax returns
- Copies of 1040-V or other documentation for estimated taxes paid
- Proof of payment of other state or local taxes paid
- Proof of payment of foreign taxes
- Forms W-2
- Forms 1099-MISC
- Schedules K-1
- Other Forms 1099 (INT, DIV, G, SSA, B, etc.)
- Forms 1098 (for mortgage, tuition and student loans)
- List of Income Not Reported on 1099 or other form
- Year End Brokerage or Bank Statements
- Retirement Account Summary
- Form W-2G for Lottery or Gambling Winnings
- List of Lottery or Gambling Losses
- Documentation of Alimony Paid or Received
- Documentation of Charitable Gifts (cash and non-cash)
- Child Care Provider Name, Address and Tax ID number
- Receipts or List of Medical Expenses
- Receipts of List of Job Expenses
- Settlement Sheet for Sales of Real Estate
- Receipt for Real Estate Taxes paid, if not on 1098
Of course, some of these may not apply to you. It’s better to have too much information than too little – a good tax preparer (or software) will ask you for what’s needed as you go along.
If you’re filing on your own (without a tax preparer), I would recommend purchasing some software. It just makes life easier – and cuts down on the likelihood of math errors.
If you will not itemize, you’ll file a form 1040-EZ in most cases. If you are itemizing, most likely you’ll file a form 1040 with accompanying schedules. You can find some more information about forms 1040 and forms 1040-EZ here.
Anything my colleagues would like to add?
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
Have a question? Ask the taxgirl!
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Hi Kelly been reading all your posts. Wow! all this info for free. I can’t tell you how much I pay my accountant to tell me much less than this.
This should be a sticky!.
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