Are you familiar with these tax forms?
The IRS announced Monday, Jan. 27, 2025, as the official start date of the nation’s 2025 tax season when the agency will begin accepting and processing 2024 tax returns.
Wait to file until you have your tax records including:
W-2s from each employer
W-2G if you had certain types of gambling winnings
1099-R if you received distributions from a pension, annuity, IRA, insurance contract and other retirement accounts
Form 1099 and Form 1099-MISC for self-employment or rental income
Form 1099-A for foreclosure of a home
Form 1099-B for proceeds from broker transactions
Form 1099-C for cancellation of debt
Form 1099-DIV for dividends and distributions
Form 1099-G for unemployment income or a state tax refund
Form 1099-INT or Form 1099-OID for interest income
Form 1099-K for business or rental income processed by third-party networks
Form 1099-LTC for Long Term Care reimbursements
Form 1099-PATR for patronage dividends
Form 1099-Q for payments from qualified education programs
Form 1099-QA for distributions from an ABLE account
Form 1099-S proceeds from the sales of property
Form 1099-SA for Health Savings Account and Medical Savings Account distributions
Form SSA-1099 for Social Security benefits
Form RRB-1099 for railroad retirement benefits
Form 1098, your Mortgage Interest Statement, which comes from the company that services your mortgage loan
Form 1098-C for the donation of an automobile, boat or aircraft worth more than $500 to a tax-exempt organization
Form 1098-E for interest you paid on a student loan during the preceding year
Form 1098-T, the Tuition Statement, documenting how much you paid in tuition for post-secondary education
Form 1040ES copies, for a record of estimated tax payments made
For more tax tips, book an appointment with us at www.lobecpa.com and we will help you tax plan and build wealth!