Tax Filing Documents Generally Fall into Three Categories: Income Documents/Tax Forms, Identification Documents, and Previous Year’s Tax Return

1. Income Documents / Tax Forms

• Income Tax Forms

At the beginning of the following year, you will receive annual income summary forms from sources of income (such as employers or banks). To distinguish them from the final tax return, these forms display your gross income before tax. Some forms also show how much income tax was withheld. Common income tax forms include W-2, 1099-MISC, 1099-INT, etc.

• Sale of Personal Items

If you sell second-hand personal items through third-party platforms (such as PayPal), you may generate income, but may not receive a tax form. If the sale amount is less than the original purchase price, you generally do not need to report it as income. However, if the platform issues a tax form, it must be reported. Keep records such as voided checks and receipts as proof of income, which can help calculate gains or losses for tax reporting.

• Work-Related Expenses

If you are self-employed, you may incur business-related expenses. It is recommended to keep receipts and invoices and track total expenses. These costs can be deducted when filing taxes. Depending on your profession, deductible expenses may vary. Common examples include airfare and hotels for business trips, business meals, office supplies, stationery, communication tools, computer equipment, and fuel.

2. Identification Documents for Tax Filing

In addition to income-related forms, you will also need to provide personal information when completing tax returns, such as: passport and visa information, number of days stayed in the U.S., and previous year’s tax details. Note: These are important documents not only for tax filing but also for immigration, visa applications, renting or buying a home, and opening bank accounts.

3. Previous Year’s Tax Return

Last year’s tax return may contain deductions or losses that carry over to the current year, or overpaid taxes that need to be adjusted. Therefore, accountants usually refer to at least one prior year’s tax return when preparing your current return. Also, previous tax returns are useful proof for purposes like immigration status adjustment or buying property in the U.S., so it is highly recommended to keep them well preserved.