Tax Document Check List

W-2 Forms for wages, salaries and tips

1099 Forms for interest, dividends, retirement, miscellaneous income, Social Security, state or local refunds, gambling winnings, etc.

1095 Forms related to health insurance coverage

Brokerage Statements showing investment transactions for stocks, bonds, etc.

Schedule K-1 from partnerships, S corporations, estates and trusts

Statements supporting deductions for mortgage interest, taxes, and charitable contributions (including any Form1098-C)

Closing Statement copies regarding the sale or purchase of real property

Legal papers for adoption, divorce, or separation involving custody of your dependent children

Tax Notices sent to you by the IRS or other taxing authority


Prepare for tax season now by reviewing the enclosed information from your 2017 income tax return and
by accumulating your 2018 tax information.

This Client Assistance Package is designed to help you gather tax information needed to prepare your 2018 personal income tax return. We have preprinted certain information from your 2017 personal income tax return to help you complete the package with minimal time and effort.

Use these worksheets as a guide to assemble your tax information or enter 2018 information directly on the worksheets, whichever is more helpful to you. Regardless of how you choose to use the client assistance package, if any information does not apply to you or is incorrect, please draw a line through it or make the necessary corrections. Blank worksheets are available on our website,, or by contacting our office.

The Client Questionnaire asks about pertinent tax items necessary for preparing the most accurate tax return possible. Please answer all applicable questions and attach a statement when necessary for additional information not provided in the Client Organizer.

Hurricane Michael Tax Information
Hurricane Michael’s impact on our area is still evident in Southwest Georgia and the Florida Big Bend. There are a few tax provisions of which you should be aware as you start to assemble your 2018 tax information. In your client assistance package we have included worksheets to help you accumulate information necessary to determine if you are allowed to deduct losses related to this disaster. See page 63 for business and income producing property losses and page 64 for personal use property losses.

Casualty and Theft Losses

A deduction for casualty losses incurred in a federally declared disaster area can be allowed on your federal income tax return. A casualty loss is defined as the damage, destruction, or loss of property resulting from a sudden, unexpected, or unusual identifiable event (e.g., car accidents, storms, floods, hurricanes). The amount of the loss is generally the lesser of the adjusted basis in the property or the decrease in fair market value due to the casualty. Your adjusted basis is generally the amount you paid for the property less any amounts deducted in the past. Inherited and gifted property have different basis rules.

Personal Casualty and Theft Losses

Personal use property casualty losses are calculated by taking the lesser of your adjusted basis or the decrease in fair market value of the property immediately before and after the casualty event. This result is further reduced by the amount of insurance proceeds, a $100 per event limit, and 10% of your adjusted gross income. We realize that you may not have an accurate estimate of the fair market value of your property immediately before and after the storm. There are several safe harbors which may apply in this situation including estimated repair costs, de minimis amounts, and insurance estimates. Please see page 64 of your client assistance package for a worksheet to help you accumulate the necessary information. Provide as much information as possible about each separate property by either completing the worksheet or in narrative form in the notes/questions section.

Business/Income Producing Property Casualty and Theft Losses

Business and income producing property casualty losses are calculated essentially the same as personal losses, but the $100 and 10% of adjusted gross income limits do not apply. Please see page 63 of your client assistance package and provide as much information about each separate piece of property as possible.

Involuntary Conversions

The existence of insurance coverage may create a taxable involuntary conversion gain rather than a loss. Such a gain occurs when total reimbursements exceed the adjusted basis of the property. However, taxpayers may elect to defer such gains realized from involuntary conversions of property resulting from destruction (including hurricanes, wildfires, and other natural disasters), theft, seizure, condemnation, or threat thereof. To the extent replacement property is purchased within two years of the loss some or all of the gain can be deferred without incurring a current tax liability.

We understand deducting casualty losses is a complex issue. Please use pages 63 and 64 of your client assistance package to provide as much information as possible for each separate property that was damaged or destroyed. We’ll contact you with any questions that we may have in order to complete your return.

Click on a document below to view or download it.

Contact Us
Youmans & Gardner, CPAs
Southwest Georgia

108 East Broughton Street
Bainbridge, Georgia 39817
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Fax 229.246.1488

Florida Big Bend

113 North Madison Street
Quincy, Florida 32351
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Fax 850.627.7384

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