Supporting Documentation
The IRS considers various types of documents as supporting documentation. Here is a comprehensive list of the most common types of supporting documentation.
Providing supporting documents is crucial when filing taxes with the IRS. These documents serve as proof of income, expenses, and deductions, which are essential in determining a taxpayer’s taxable income and the amount of tax owed or refund due. Without proper documentation, the IRS may question the accuracy of a taxpayer’s return, resulting in additional taxes, penalties, and interest.
Moreover, supporting documents also serve as a record-keeping tool that can help taxpayers substantiate their income and deductions in case of an audit or other inquiries from the IRS. By keeping detailed records and providing supporting documents, taxpayers can avoid potential tax disputes and show compliance with tax laws and regulations. Ultimately, providing accurate and complete supporting documentation can help ensure that taxpayers pay the right amount of taxes and avoid any unnecessary complications or consequences.
| Type of Supporting Document | Examples |
| Income Statements | W-2 form, 1099-MISC, 1099-NEC, K-1 form, 1099-INT, 1099-DIV, 1099-B, 1099-R |
| Expense Receipts | Business receipts, medical receipts, charitable donation receipts, education expense receipts, childcare expense receipts |
| Bank Statements | Checking and savings account statements, credit card statements, mortgage or home equity loan statements |
| Investment Statements | Brokerage statements, mutual fund statements, REIT statements |
| Mortgage Statements | Statements for mortgage or home equity loans |
| Charitable Donation Receipts | Receipts or acknowledgments from charities for monetary donations, documentation for non-monetary donations |
| Education Expense Documentation | 1098-T form, receipts or documentation for other education expenses |
| Childcare Expense Documentation | Receipts or documentation for childcare expenses |
| Retirement Account Statements | Statements for traditional or Roth IRAs, statements for 401(k) or other employer-sponsored retirement plans |
| Real Estate Documents | Closing statements or settlement sheets, property tax statements or receipts |
| Insurance Statements | Statements or receipts for health insurance premiums or expenses, statements or receipts for casualty or theft losses |
| Legal Documents | Divorce decree or separation agreement, adoption papers |
| Other Documents | Travel logs or mileage logs, records of gambling winnings and losses, partnership or corporate tax returns |
It is important to note that this table is not an exhaustive list, and the specific documentation required may vary depending on an individual’s tax situation. It is always best to consult with a tax professional or refer to the IRS’s official guidelines to determine which documents are necessary for your specific tax return.
