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Records needed for tax preparation



By AP
15 February 2008 @ 12:17 pm EST

The most common records you'll need to prepare 2007 taxes, whether you use home-computer tax software, a professional tax preparer or an old-fashioned paper tax return:

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--Copy of 2006 tax return.

--W-2s from all employers. --Forms 1099, 1099-DIV, 1099-R and 1099-G showing non-wage income, dividend or interest paid to you in 2007 as well as any refund, credit or offset of state and local taxes.

--Receipts indicating state and local taxes, real estate taxes and personal property taxes you paid in 2007.

--Form 1098 showing 2007 home mortgage interest and points, as well as mortgage insurance premiums on home acquisition debt that was new or refinanced in 2007.

--Receipts and documentation for all charitable contributions and gifts (cash and non-cash).

--Income receipts from rental real estate, royalties, partnerships, S corporation and trusts.

--Records of unemployment compensation, Social Security benefits or other income.

--Records of medical and dental expenses if you think you can meet the 7.5 percent adjusted gross income threshold required for this deduction.

--Documentation of casualty and theft losses.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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