Tax Time Is Here - What Do You Need?

Here’s what you need to provide your CPA related to housing:

1. Form 1098 - Mortgage Interest Statement (sent to you from your lender)

2. Property Tax Records

3. Closing Statement - If you purchased, sold, or refinanced a home.

4. Home Improvements Expenses - Receipts to review if they qualify.

5. Real Estate Transactions - details of any purchases or sales - 1099-S if received.

6. 1099-INT/1099-DIV - If you have interest or dividend income from home-related investments.

7. Disaster Losses - If your home was affected.

8. Home Equity Loans / Lines of Credit - If used for home improvement, submit for CPA review to determine interest deduction eligibility.

Tax laws are always changing, so when in doubt, ask your CPA for guidance.

Need a CPA referral? - Send me a note, I know many great ones throughout the Triangle area.