Prepare Your 2020 Tax Return With Our 1040 Checklist

2020 is finally over and we all know what that means! It’s time for tax season!

The COVID-19 pandemic has changed the economic landscape for just about everyone, and some of these changes may directly affect your 2020 income tax returns. No worries though, we won’t leave you hanging!

The CPA Nerds have prepared our annual 1040 checklist to help you prepare and file your 2020 tax returns.

This checklist will help you collect all the information you need to prepare to properly file. If you plan on filing with us, you can download our 1040 checklist and Client Gateway questionnaire here.

Even if you are filing yourself, please note, you can still use our 1040 checklist! It’s available for everyone to use!

Maybe you just have a few questions and don’t know where to turn. Not a problem! You can always contact us and one of our nerds will be happy to help you out!

CPA Nerds 2020 1040 Checklist

The below information is everything you will need to file your 1040 form:

  • Copy of your 2019 tax return
  • Original Form(s) W-2
  • Form(s) W-2G for gambling winnings.
    • Amount of gambling losses $ _____________
  • Schedule(s) K-1 showing income or loss from partnerships, S corporations, estates or trusts
  • Form(s) 1099 or statements reporting dividend, interest, retirement, Social Security, state and/or local refunds, or miscellaneous income
  • Form 1099-G or statements reporting unemployment income
  • Brokerage statements showing investment transactions for stocks, bonds, etc. (Form 1099-B)
  • IRS Notice 1444 for Economic Stimulus Payment(s) in 2020 and/or 2021
  • Total amount paid for property taxes, including license tabs on vehicles
  • Total amount of medical expenses (including premiums paid) during 2020 (Please do not send all of the receipts)
  • The dollar amount of cash and non-cash contributions made during the year
  • Copies of closing statements regarding the sale and/or purchase of real property
  • Statements supporting educational expenses, deductions or distributions, including any Forms 1098-T, 1098-E or 1099Q
  • All Forms 1095-A, 1095-B and/or 1095-C related to health care coverage or the Premium Tax Credit
  • Statements supporting deductions for mortgage interest and property taxes (including any Forms 1098 and 1098-C)

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