You may be receiving tons of paperwork over the next few weeks to prepare for your 2023 tax filing. We know tax season can be a stressful time, especially given the abundance of information and forms you need to gather. In an attempt to alleviate some of this anxiety, we want to let you know which forms you should be on the lookout for.
- For starters, W2 employees should be on the lookout for Form 1099
- In addition, those with investments, including those with dividends, interest , capital gains and losses, should also be on the lookout for their 1099
- The sale of real estate or property also requires Form 1099, more specifically 1099-S
- If you are involved in a partnership, S-Corp, or LLC, you will need a K-1, but those will come later, not by January 31
- If you exercised ISOs or NSOs, look out for form 3921
While these are only a few of the common forms you should be on the lookout for, if you have more specific questions about which forms you need for your particular situation, email us at info@shermanwealth.com or schedule a complimentary 30-minute consultation here. If you are missing information you think you might need for tax season, make sure to reach out to your financial advisor or custodian so that you have the proper documentation and your taxes are not delayed.
