Tax Forms Q & A
What documents do I need to prepare my tax return, and when will I receive them?
The documents you need will vary from person to person depending on the situation. The following are some of the most common forms you can receive for tax time. They will be sent to you by January 31.
- W2 reports income earned from an employer
- 1099-INT reports bank interest earned
- 1098 reports mortgage interest paid
- 1098-E reports student loan interest paid
- 1099-SA shows any distribution from an HSA account
- SSA-1099 reports social security income received
- 1099-R shows a distribution from a retirement account such as an IRA or 401(K)
- 1095-(A,B or C) shows proof that you you’ve had health insurance coverage
The next two forms have a deadline of February 15.
- 1099-B reports sales of stocks, mutual funds or bonds
- 1099-Div reports dividends and interest from stocks, mutual funds and bonds
Tax forms can be delivered to you via mail or electronically. If you receive electronic statements or pay stubs, you will also typically receive your tax form electronically. This usually occurs through a website “portal”.
These are the most common tax forms, but there are many more. If you have questions, talk with a tax professional or call Advisors Management Group.
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