5 Tax Documents Most People Should Have

As the W-2’s and other tax forms start making their way to your mailbox or inbox, Yahoo! Finance reminds us of five tax forms that most Americans shouldn’t be without. There are of course exceptions, but it doesn’t hurt to double check.

1. Form 1040
This is the standard form that you will actually file with the IRS. On this form you will find out if you owe the government or if they owe you.

2. Form W-2
This form comes from your employer. It tells you how much you made during the year and the amount of taxes that were withheld.

3. Form 1099
This form is for all different sorts of income, including but not limited to interest or investment earnings.

4. Annual Mortgage Statement (if you have a mortgage)
This form tells you how much interest you paid on your mortgage, which is tax deductible.

5. Last Year’s Tax Return (a useful reference and refresher)
You never know when last year’s information could come in handy.

Take a look at the video from a Yahoo! Finance expert, as she explains what each form is and why it’s important.

Watch video here.

As a reminder you can WIN & SAVE when you use Turbo Tax as a Connex Credit Union member! Just file your taxes with Turbo Tax through your online banking account and you’re entered to win $15,000! Plus Connex members exclusively save %15 off the regular price of Turbo Tax Federal products! Find out more about the contest here.

Do you prepare your own taxes or take them to an expert?

Chris, VP of Unbanking


Improving the lives of our members... one member at a time.

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Posted in Contests and Promotions, Financial Education, Improve your life, Money Saving Tips

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