taxes

As the April 18 tax deadline looms, tackle your taxes in just 7 days

Taxes » Tax Filing »

Day 1: Gather data
Day 1: Gather data | Hero Images/Getty Images

Day 1: Gather data

We're talking about the income tax, so that means you need to gather all your earnings information.

Start with your W-2 wage statements. You should have one for each salaried job you had last year.

Don't forget any 1099 forms. These statements, each with a different suffix or prefix, will come from various sources:

  • You'll have received some from employers if you did independent contract work.
  • You'll have Form 1099-INT and 1099-DIV from banks and investment companies if you owned financial instruments that paid interest or dividends.
  • You'll need Form 1099-B if you sold a stock, Form 1099-S if you sold real estate.
  • Form SSA-1099 will document any Social Security income you received.
  • Form 1099-G goes to those who collected unemployment, which, unfortunately, is taxable.
  • If you had some luck and received Form W-2G from a gambling establishment, you'll have to report any winnings.

Remember, the IRS also received copies of these income statements. Put them together with other tax-related documents you received earlier.

Do you think you might owe taxes? Check out low-interest credit cards at Bankrate.

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