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What forms are required for filing income tax?

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Quick Answer

Forms required for filing income taxes depend on the source of income and various deductions, but can include forms such as a W-2, 1099-MISC, 1098 and 1095A, according to Bankrate. Statements from stockbrokers, employers and banks are necessary to document income, deductions and tax credits.

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Full Answer

Forms required for filing taxes are sent through the mail and online, according to Bankrate. Such forms include Form 1095A, which is sent to taxpayers who enroll in a federal or state health care plan.

The form is needed to complete Form 8962 in order to determine a premium tax credit amount. The taxpayer should get in touch with his coverage provider, if he doesn't receive a Form 1095A.

A taxpayer might also need to gather receipts, evidence of cancelled checks and documents related to health care insurance coverage or other deductions, notes the IRS.

Documents that detail the income a taxpayer earns in a single tax year include W-2 and 1099-MISC, states Bankrate. The 1099-MISC form is intended for self-employed individuals who earn at least $600 in a single tax year. Each company for which the independent contractor is paid at least $600 should send him a 1099-MISC form. W-2 tax forms are used for traditional employment and show how much an employee makes, how much was deducted for income tax, and how much Medicare and Social Security tax was withheld during the tax year. Examples of additional forms used to file income taxes include 1098 for mortgage interest, 1098-E for student loans and 1099-INT for earning interest on a certificate of deposit or bank account.

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