{"id":20,"date":"2016-12-01T04:41:00","date_gmt":"2016-12-01T04:41:00","guid":{"rendered":"\/irs-form-1099\/post\/2016\/12\/01\/tax-return-preparation-checklist-for-filing-your-1099-taxes.aspx"},"modified":"2024-11-21T10:30:14","modified_gmt":"2024-11-21T10:30:14","slug":"tax-return-preparation-checklist-for-filing-your-1099-taxes","status":"publish","type":"post","link":"https:\/\/www.tax2efile.com\/blog\/tax-return-preparation-checklist-for-filing-your-1099-taxes\/","title":{"rendered":"Must Know this Tax Preparation Checklist for Filing Your 1099 Taxes 2016"},"content":{"rendered":"<p class=\"MsoNormal\"><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Prior to beginning with the procedure of preparing income tax return, it is necessary for you to go through the tax preparation checklist. There are different categories in the 1099 tax preparation checklist and not all the categories will strictly apply to you. Therefore, what you need to do is select the category that applies to you and ensures that you have all the necessary information available. Once you are completely ready to <a href=\"https:\/\/www.tax2efile.com\/efile-1099-form\/\">efile 1099 online<\/a> with the help of this checklist, you will be completely surprised to find the amount of time you will be saving by having all your information beforehand.<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-85\" src=\"https:\/\/www.tax2efile.com\/blog\/wp-content\/uploads\/2017\/09\/16.-Must-Know-this-Tax-Preparation-Checklist-for-Filing-Your-1099-Taxes-2016.jpg\" alt=\"Tax Preparation Checklist for Filing Your 1099 Taxes\" width=\"450\" height=\"280\" srcset=\"https:\/\/www.tax2efile.com\/blog\/wp-content\/uploads\/2017\/09\/16.-Must-Know-this-Tax-Preparation-Checklist-for-Filing-Your-1099-Taxes-2016.jpg 450w, https:\/\/www.tax2efile.com\/blog\/wp-content\/uploads\/2017\/09\/16.-Must-Know-this-Tax-Preparation-Checklist-for-Filing-Your-1099-Taxes-2016-300x187.jpg 300w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/span><\/p>\n<p>&nbsp;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www.tax2efile.com\/blog\/tax-return-preparation-checklist-for-filing-your-1099-taxes\/#Important_Inclusions_of_the_1099_Checklist\" >Important Inclusions of the 1099 Checklist<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www.tax2efile.com\/blog\/tax-return-preparation-checklist-for-filing-your-1099-taxes\/#Personal_Information\" >Personal Information<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www.tax2efile.com\/blog\/tax-return-preparation-checklist-for-filing-your-1099-taxes\/#Information_about_Income\" >Information about Income<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"MsoNormal\"><span class=\"ez-toc-section\" id=\"Important_Inclusions_of_the_1099_Checklist\"><\/span><strong><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Important Inclusions of the 1099 Checklist<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"MsoNormal\"><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">The 1099 checklist contains the following points that are important to be included when filing <a href=\"https:\/\/www.tax2efile.com\/efile-1099-form\/\">1099 online<\/a>.<\/span><\/p>\n<h3 class=\"MsoNormal\"><span class=\"ez-toc-section\" id=\"Personal_Information\"><\/span><strong><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Personal Information<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"MsoNormal\"><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">It is necessary for the IRS to have a basic understanding of the individual filing taxes and the one who is covered in the tax return. This can be done by using the dates of birth and social security numbers of your dependents or spouse.<\/span><\/p>\n<h3 class=\"MsoNormal\"><span class=\"ez-toc-section\" id=\"Information_about_Income\"><\/span><strong><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Information about Income<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"MsoNormal\"><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">This will include the income from jobs, income from local and state income tax refunds or unemployment, investment income, alimony received and income from farming or business. The income received from the property sale, pension distributions, social security benefits and miscellaneous income. The adjustments to earnings also need to be included. There are different criteria that can help on reducing the income amount that is taxed and these include:<\/span><\/p>\n<ul>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Energy credits<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">IRA contributions<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Student loan interest<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Moving expenses<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Medical savings account contributions<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Educator expenses<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Alimony paid<\/span><\/li>\n<li>\u00b7<span style=\"font-variant-numeric: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">Payments of self-employed health insurance payments<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 12.0pt; mso-bidi-font-size: 11.0pt; line-height: 115%; font-family: 'Times New Roman','serif';\">There are various other important points that also need to be considered when filing 1099 taxes before the deadline. Therefore, going through the complete checklist is very important.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prior to beginning with the procedure of preparing income tax return, it is necessary for you to go through the tax preparation checklist. There are different categories in the 1099 tax preparation checklist and not all the categories will strictly apply to you. Therefore, what you need to do is select the category that applies [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[],"class_list":["post-20","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-file-1099"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts\/20","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/comments?post=20"}],"version-history":[{"count":2,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts\/20\/revisions"}],"predecessor-version":[{"id":4650,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts\/20\/revisions\/4650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/media\/85"}],"wp:attachment":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/media?parent=20"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/categories?post=20"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/tags?post=20"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}