Which Forms Do I Need to File My Taxes? | The First National Bank Blog

April 5th, 2016

Tax FormsIf you haven’t done it already, you’re probably gathering IRS forms and other documents you’ll use to file your tax returns. Here’s a quick list of what you might need this year:
W-2 – The W-2 shows what you earned, how much income tax was withheld, how much you paid in Social Security and Medicare taxes, and any benefit contributions. If you didn’t find your W-2(s) in your mailbox, check your email. Some employers send it electronically.
1095-A, B or C – This form is issued by your health coverage provider. Version A is sent by the Health Insurance Market Place. Version B is sent by major insurers or other providers. Version C is for employees of companies that offer health coverage. If you received the 1095-A, you’ll use it to prepare your tax returns. Versions B and C are generally for your tax records.
1098 – The main purpose of this form is to tell you how much mortgage interest you paid last year. Your lender will send you a 1098 or its own similar document if you paid at least $600.
1098-E – Include this form if you are paying off a student loan because interest over $600 on educational debt is generally tax deductible.
1099-DIV – This form shows dividends and capital gains of more than $10 from stocks and mutual funds.
1099-INT – You’ll need this form if you earned more than $10 in interest on a bank account or a certificate of deposit. You will also need it if you cashed in savings bonds.
1099-B – Your broker or mutual fund company will send you this form if you sold stocks, bonds or mutual funds in 2015.
1099-K – This form gives the IRS information about credit card, debit card and third-party payment processors such as PayPal and eBay. Whether you receive a 1099-K or not you must report these types of payments to the IRS.
1099-R – Your broker, pension plan manager or mutual fund company will send you this form if you received a pension or a distribution from an IRA or retirement plan.
1099-MISC – If you’re self-employed and earned $600 or more in 2015, you’ll need a 1099-MISC from each company you did business with.

While there are other IRS forms you might need to complete your 2015 tax return, these are some of the most common. If you have further questions, please consult a qualified tax professional.

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Are there IRS forms or documents you use to file your taxes that we missed? Let us know in the Comments section.