The Complete Tax Documents Checklist for 2025 Taxes

Tax season is well underway and it can feel something like a scavenger hunt sorting through paper and digital documents trying to find everything you need to file your income taxes. To avoid hours of frustration, prevent mistakes, and maximize your refund, getting organized and compiling all the correct and necessary documents beforehand is crucial. Here’s a quick summary of the essential documents almost all filers need:

• Social Security Numbers (SSN) for you, your spouse, and your dependents
• W-2 forms from all employers you for in 2025
• 1099 forms for any freelance, investment, or other income
• Bank account and routing numbers for the direct deposit of your refund
• Last year’s tax return as a reference for carryover figures and adjusted gross income (AGI) verification
• Receipts and records for all deductions you plan to claim

The deadline to file your 2025 taxes is April 15, 2026. If you need more time, you can file for a six-month extension. The extension to file, however, is not an extension to pay taxes owed. If you owe taxes, those are still due by the April 15 deadline.

With the right tools and checklist, gathering what you need to file taxes isn’t completely stressful. We’ll walk you through exactly what to collect.

#When Do Tax Documents Arrive?

Before filing your taxes, you’ll need to have all of your documents in hand or organized on your computer. Not all tax documents are released at the same time, but here’s what to expect from the most common forms:

If you haven’t received a form by mid-February, contact the issuer directly. For missing W-2s, you may also contact the IRS after February 15. The IRS will send a letter to your employer on your behalf.

#Personal Information and Identification Documents

In addition to the documents listed above, there are personal details required for every return.

• Your Social Security Number or Individual Taxpayer Identification Number (ITIN)
• Your spouse’s SSN or ITIN if you plan to file jointly
• Full name, SSN or ITIN, and date of birth of every dependent
• Last year’s tax return because this is helpful for your prior-year AGI, which e-file systems use to verify your identity
• Bank account and routing numbers for direct deposit
• Identity Protection PIN (IP PIN) if the IRS issued you one you will need it to file

#Income Documents Checklist

You must report all income that you received during the year. There are many types of income beyond just the basic salary. Let’s break it down.

#Employment Income

• W-2: The W-2 form reports your total wages and the taxes withheld from your employer. If you worked for multiple companies, you will then have multiple W-2s.

#Self-Employment and Business Income

• 1099-NEC: If a client/business paid you more than $600 for your freelance or contract work, you will receive a 1099-NEC.
• 1099-K: If you received payments for goods or services, this type of form is issued by payment platforms (think PayPal, Venmo, or Stripe).
• Business income and expense records. Even if you don’t receive a 1099, all self-employment income needs to be reported. Be sure to keep records of invoices, receipts, and bank statements.
• Home office records: You’ll need to know the square footage of your workspace vs. your total home.
• Business mileage log: Keep track of your mileage if you use your vehicle for work.

#Investment and Interest Income

• 1099-INT: This form reports interest earned from checking, savings, CDs, and other bank accounts.
• 1099-DIV: This is the form that reports dividends and distributions from stocks or mutual funds.
• 1099-B: Reports the proceeds from the sale of stocks, bonds, or other securities and is issued by your brokerage.
• Form 1099-S: You will only receive this if you sold real estate.
• Records of investment purchase dates and cost basis: In order to calculate capital gains and losses it’s important to record when you buy and sell any investments and for what price.

#Retirement Income

• 1099-R: Reports distributions from your IRAs, 401(k)s, pensions, and annuities.
• SSA-1099: This is the form which reports the Social Security benefits you received.
• Records of Roth IRA contributions: This is relevant if you took a distribution in order to determine how much, if any, is taxable.

#Other Sources of Income

• 1099-G: This reports unemployment compensation or state tax refunds.
• Alimony received: This is only applicable for divorce agreements finalized before 2019.
• Gambling winnings: Reported via a W-2G or through your own records.
• Rental income records: If you collected rent, you’ll need to show records of that plus all rental related expenses.
• Jury duty pay stubs: if you served on a jury.
• Cryptocurrency transaction records: The IRS treats crypto as property. If you sell, exchange, or use the crypto it may trigger a taxable event.

#Tax Deduction Documents

Deductions reduce your taxable income which then can significantly lower the amount that you might owe, or even increase your refund. When filing your taxes, you’ll either opt to take the standard deduction or itemize your deductions. Choose whichever option is larger.

Additionally, there are above-the-line deductions and below-the-line deductions. Above-the-line deductions can be taken whether you choose the standard deduction or itemize. They are used to determine your adjusted gross income. Below-the line deductions are your itemized deductions and are reported below your AGI.

Included in above-the-line deductions are the following:

• Educator expenses: If you are a teacher you can deduct up to $300 in unreimbursed classroom expenses.
• Student loan interest: Form 1098-E from your student loan servicer.
• Retirement plan contributions: This includes employer sponsored plans, plans for self-employed individuals, and traditional IRAs. There are limits on deductions depending on if you have an employer-sponsored plan and income levels.
• Contributions to Health Savings Accounts (HSAs) and Medical Savings Accounts (MSAs): You must be enrolled in a high-deductible health plan to deduct these contributions.
• Business expenses: If you are a sole proprietor, you can deduct expenses on the Schedule C. This includes rent, utilities, equipment, supplies, insurance, legal fees, salaries, and contract labor. You may also deduct one-half of the self-employment tax.
• Alimony: If you were divorced before December 31, 2018, you may be able to deduct payments made to a former spouse.
• Early withdrawal penalties: Any penalty you paid from the early withdrawal of a CD or bond can be deducted.
• Qualified business income deduction (QBI): Eligible self-employed or small business owners can deduct up to 20% of QBI, plus 20% of qualified REIT dividends and publicly traded partnership (PTP) income.

For the 2025 tax year, the standard deduction is as follows:

• $15,750 for single or married filing separately
• $31,500 for married couples filing jointly or qualifying surviving spouse
• $23,625 for head of household

If your itemized deductions are greater than the standard deduction, then you’ll need to gather documentation for the following deductible items (below-the-line):

• Mortgage interest: Form 1098 from your lender
• Property taxes: Records or statements from your county or mortgage escrow
• State and local income taxes (SALT) paid: Your state tax return or withholding statements. SALT deductions are capped at $40,000 for single and joint filers, and $20,000 for married filing separately.
• Charitable donations: You’ll need to provide documentation or receipts for cash donations, non-cash donations, and mileage driven for charitable purposes. For non-cash donations valued at over $500, you’ll also fill out Form 8283.
• Medical and dental expenses: You’ll need receipts for out-of-pocket medical and dental costs that exceed 7.5% of your AGI. This includes doctor visits, insurance premiums, prescriptions, etc.)

Use custom tags in Monarch to flag transactions you’ll need to track for tax purposes. Creating a custom tag such as “medical expense”, “business expense”, or “charitable donation” will make collecting everything you need much simpler and faster. You can get even more specific with the tags to indicate the specific business, rental property, etc. the deduction would apply to so you can run a quick report at the end of the year for each one.

#Tax Credit Documents

Tax credits reduce your tax bill on a dollar-for-dollar basis. Generally, they are even more valuable than deductions. For common credits there are relevant documents and information you’ll need:

• Child Tax Credit/Dependent Care Credit: You’ll need the names, SSNs, and birthdates of qualifying children. Receipts and statements from your childcare or dependent care provider and related expenses (summer camps, after-school programs, etc.). You’ll need to fill out Form 2441.
• Earned Income Tax Credit (EITC): Provide documentation of earned income, SSNs for qualifying children.
• American Opportunity or Lifetime Learning Credit: Form 1098-T from your college or university. Also, keep records of tuition and fees paid.
• Retirement Savings Contributions Credit (Saver’s Credit): Documentation of your IRA or 401(k) contributions.
• Energy Efficiency Credits: If you made any qualifying home improvements, you’ll need receipts and manufacturer certifications. This includes things like adding solar panels or EV chargers to your home.
• Premium Tax Credit: Form 1095-A if you purchased insurance through the marketplace.

#Proof of Taxes Paid

If you paid taxes throughout the year, you’ll want to keep proof that you did so. This includes:

• Federal withholding: This is shown on your W-2 or 1099 forms.
• Estimated tax payments: Records of any quarterly payments made. You can use Form 1040-ES payment confirmations or IRS account transcripts.
• State tax withholding: Shown on your W-2 and any state-specific forms.
• Prior-year state tax refund: Form 1099-G may be needed if you itemized last year.

#Tax Documents Checklist for Self-Employed Filers

If you own your own business or work as an independent contractor, gig worker, or freelancer, that adds a level of complexity to your taxes, but also an opportunity to save more through deductions. Here’s what you’ll need to gather in addition to the standard checklist above:

#Income Records:

• All 1099-NEC and 1099-K forms you received
• Your own invoices and payment records; remember you need to report all income even without a 1099.

#Business Expense Records:

• Receipts and statements for all deductible business expenses including equipment, marketing, professional development, professional services, software, and subscriptions.
• Home office: Square footage of your working space, utility bills, rent or mortgage interest, homeowner’s or renter’s insurance.
• Vehicle use: Mileage log with dates, destinations, and business purpose, or records for the actual expense method.
• Health insurance premiums: Self-employed people may be able to deduct 100% of premiums paid.

#Self-Employment Tax:

• You owe self-employment tax (15.3%) on net self-employment income. You can deduct half of this on your return. No extra documentation is required, but it is helpful to understand.

#Quarterly Estimated Payments:

• Records of any estimated payments made to the IRS and your state throughout the year.

Again, Monarch’s budgeting categories and tags can make it much easier to track business vs. personal expenses all year long. Set up a dedicated category for freelance income and tag business expenses as they happen. This is particularly helpful when blurry personal-business expenses like a phone bill or home internet happen.

#Tax Document Checklist for Married Couples Filing Jointly

Generally speaking, filing jointly is typically the most advantageous option for married couples, but it does mean combining your financial picture. If you’re filing jointly this year, here’s what you need to gather:

• W-2s for both spouses from all employers
• All 1099 forms for both spouses
• SSNs for both spouses and any dependents
• Combined records for shared deductions (mortgage interest, property taxes, charitable donations)
• Separate records for individual deductions (student loan interest, medical expenses, educator expenses)
• 1099-Bs from Investment and brokerage accounts in individual names and jointly owned
• 1099-R for retirement distributions for both spouses as well as contribution records

Monarch offers a shared account feature to unify your view of household income and spending. This feature enables you to add multiple household members to one account, each with their own login, and allows anyone you add to see a complete picture of your household’s income, expenses, and potential deductions all in one platform.

#What if Documents are Missing?

If you find yourself missing some tax related documents, don’t panic. Here’s what you need to do:

#If you’re missing a W-2:

• Contact your employer’s HR or payroll department directly.
• If you haven’t received it by February 15, call the IRS at 1-800-829-1040. They can send a letter to your company.
• As a last resort, you can file using Form 4852 using your final paystub.

#If you’re missing 1099s:

• Contact the company or financial institution directly.
• For investment accounts, log onto your customer portal as most institutions post tax documents online.
• Remember, you are still required to report the income even without the 1099.

#Missing records for deductions:

• Bank and credit card statements are a good substitute for receipts.
• Charitable organizations can provide a duplicate acknowledgement letter if needed.
• The IRS can provide transcripts of income reported under your SSN. This is useful for cross-referencing what was submitted on your behalf.

#How Long to Keep Tax Records

Okay, so now you’ve filed your taxes, how long should you hold onto all of your documents? The following table breaks down good rules of thumb regarding record keeping:

When you aren’t sure, best practice is to keep the document or record. Digital storage makes this easier. Scan all paper documents in addition to keeping the paper version. Be sure to keep all digital and paper assets in a clearly marked folder with the tax year included.

#Year-Round Tax Organization: Don’t Just Think About Taxes in April

Is there such a thing as a stress-free tax season? You might be able to achieve this daunting feat if you treat tax preparation as a year-round habit and not an early spring scramble. There are a few ways to build better habits and make next year’s tax season that much more pleasant.

Set up a dedicated folder (both digitally and physical). Create a folder for each tax year and drop documents in as they arrive. You won’t have to go scrambling to locate documents once filing time comes around if it’s already in one place.

Track deductible expenses as they happen. Don’t assume you’ll remember everything. From business lunches to donations or a new work-from-home setup, keep records and logs of everything from the time of purchase. Monarch will let you tag transactions with custom labels and then run a custom report on each label so you can more easily see deductible expenses when needed.

Monitor your tax withholding mid-year. If your income or life situation changes, whether that’s a new job, marriage, or baby, you’ll need to revisit your W-4 withholding. If you receive a large refund, that means you needlessly overpaid throughout the year. If you, conversely, owe a large amount, you underpaid and may face a penalty.

Review investment transactions before December 31. If you hold investments at a loss, consider tax-loss harvesting before year-end to offset any capital gains. Be sure to consult with a professional before doing so.

Contribute to tax-advantaged accounts before the deadlines. For the 2025 year, you can actually make IRA contributions until April 15, 2026. HSAs follow the same guidelines.For employer-based retirement plans like 401(k)s and 403(b)s, you have to contribute by December 31st of each year for it to count for that year. If you’re able to max out contributions to pre-tax retirement or tax-advantaged accounts they may help lower your taxable income. (Roth contributions don’t lower your taxable income but can still be a better choice for many folks, so be sure to choose your contribution type based on your overall financial plan, not just what lowers your current tax bill.)

Monarch’s net worth tracking and budgeting tools will give you the year-round picture of your money. When tax time comes, you’ll feel organized and prepared. Tax preparation doesn’t have to be a chore if you keep organized and track your income and expenses consistently.

#Get Organized, File with Confidence

You don’t have to let tax filing season become a stressful marathon you dread. When your documents are gathered and organized in advance, the process can be manageable and simplified, whether you’re filing on your own or with the help of a tax professional.

This checklist will serve as your starting point. As you work through each section, check off what applies to you and what you’ve completed, flag anything that still needs attention or hasn’t been received. The best time to start prepping for next tax season is now.

#FAQs

Do I really need my prior year’s return to file?
No, legally you do not need it, but it is very helpful. Most e-filing software will ask for your prior-year adjusted gross income (AGI) to verify your identity. You can retrieve your AGI through the IRS’s Get Transcript tool at IRS.gov if you don’t have a copy of your return.

What if I’m missing a W-2 or 1099?
First, contact the issuer of the form. If they can’t get it to you in time, you might be able to use a substitute form (Form 4852 for a W-2), or file using other records such as pay stubs or bank statements. You can request an extension, but that doesn’t change the fact that taxes owed are still due on April 15.

Should I keep these documents after filing?
Yes, you should keep tax-related documents for at least three years after filing in most situations. If your situation is more complex, then you should keep the documents for even longer.

What documents do I need to file my taxes?
At a minimum you’ll need your SSN, a W-2 or other income documentation, and your bank account information if you want direct deposit for a refund. Your specific situation and financial holdings will determine what else you need. The checklist above will help you decipher what’s applicable to you.

What forms do I need to file my taxes?
The primary form is Form 1040, which is the U.S. Individual Income Tax Return. Depending on your situation, you may also need Schedule A to itemize deductions, Schedule B for interest and dividends received, Schedule C for self-employment income, and Schedule D for realized capital gains. You may need other forms as well. Tax software or a professional preparer like a CPA can help you determine which forms are necessary.

Do I need proof of income to file taxes?
Yes, you need to report all of your income including W-2s and 1099s as official proof. If you don’t receive these forms, or have income under $600 from a source, you are still required to report it and keep records of it.

What if I don’t have all of my tax documents?
There are a few options for you. First and foremost, you should contact the issuer. Secondly, you can use substitute forms or file an extension. It’s important to note that filing on extension only extends the deadline to file, it doesn’t extend the deadline for taxes owed. Estimate what you owe and make sure to pay it by April 15 to avoid interest and penalties.

What do I need to file my taxes myself?
You need all of the applicable documents listed in the article above, plus a filing method like a tax software, CPA, or the IRS Free File program (income limits apply). Your prior-year return and carving out a dedicated amount of time to complete the process will make it much smoother.