Tax Preparation Checklist

If you are unsure whether an event has tax ramifications, please include the details.

Changes to your personal situation can affect your return significantly. Review these questions and flag anything that applies to the tax year.

• Did your immigration status change? Did you obtain or change a visa, citizenship status, or turn in a green card?
• Did your family size change? Any changes to marital status, births, deaths, or dependents moving in or out?
• Is anyone living in your home, or do you provide support (food, shelter, clothing) to someone who is or became disabled?
• Did you move across a state, province, or international boundary? Was the move temporary or permanent, and what was the purpose?
• Did you sell real estate during the year, including your primary residence?
• Did you start a new job, change how or where you work, become self-employed, or create a business entity?
• Did you make any large payments, refinance a mortgage, or pay off another debt instrument?
• For U.S. persons: Did you make any large gifts (more than $18,000 USD per recipient)? Did you receive any gifts, bequests, or inheritance from a non-U.S. person, estate, or corporation?
• Did your dependent child earn any income during the year — including wages, unemployment, investment income, or other amounts?

• Copy of current photo identification — driver’s license or passport (if not previously provided)
• Copy of last year’s return(s) to ensure continuity and carry-forwards (if not prepared by AET)
• If you worked in more than one jurisdiction: a list of total days worked during the year and total days worked in each jurisdiction
• For U.S. persons residing outside the U.S.: the number of days you were outside the U.S. during the year and the total number of days you were in the U.S., broken out by personal and business days
• For non-U.S. persons filing a U.S. return or who travelled to the U.S. during the year: a copy of your I-94 travel history

Gather documents for each income type that applies to your situation. If no year-end tax document was issued, provide account statements or a summary of amounts received.

Employment and unemployment Form W-2, T4, 1099-G, T4E, or other year-end tax documents. If no year-end document is available, provide pay stubs showing gross wages and deductions for the full calendar year. If you or your employer contributes to a retirement or pension plan, see Non-U.S. Trusts and Retirement Accounts below.

Interest income Form 1099-INT, T5, NR4, or other year-end document reporting total interest earned. If no slip was issued, provide a total of all interest received during the year.

Dividend income Form 1099-DIV, T5, T3, NR4, or other year-end document reporting total dividends and their source. If no slip was issued, provide account statements listing each dividend source, amount, and date paid.

Capital gains Form 1099-B, T5008, or other year-end document showing assets sold, dates and amounts of purchase and sale, and any costs incurred. This includes the sale of your primary residence.

Stock options and equity compensation Vesting schedule, history of grants and exercises. If employment was performed in more than one jurisdiction between grant and exercise, provide the dates worked in each jurisdiction.

Cryptocurrency Details of all purchases, sales, exchanges, mining, forks, trades, and bartering that occurred during the year — including dates and amounts. Most wallet applications have tax reports available for download.

Self-employment income Form 1099-MISC, 1099-NEC, T4A, T4A-NR, or a summary of total payments received. Also provide a summary of expenses incurred to earn the income and a list of assets purchased, sold, or used in your business — including purchase and sale dates, amounts, and the date you began using each asset in your business. See our Business Worksheet for guidance.

Rental property income A summary of income received and expenses incurred, plus a list of assets purchased, sold, or used in your rental operation — including purchase and sale dates and the date you began using each asset. See our Rental Worksheet for guidance.

Retirement and pension income SSA-1099, 1099-R, T4-AP, T4A-OAS, T4A, T4RSP, T4RIF, NR4, or other year-end documents detailing pension or Social Security benefits received during the year.

Education-related income Form 1099-MISC, W-2, 1098-T, T4A, or other year-end document detailing scholarship, grant, bursary, or fellowship amounts received and how much was used to pay tuition and other qualifying education expenses. Include account statements from the school detailing amounts billed and paid.

Alimony and spousal support received Copy of the divorce or separation decree or agreement.

Foreign currency gain or loss If you made a large payment or paid off a debt instrument such as a mortgage in a foreign currency, provide the documents from the original acquisition and from the payoff or refinance.

Shareholders, partners, and beneficiaries For U.S. entities and trusts: Form K-1 and a copy of the entity’s return if available.

Non-U.S. mutual funds, ETFs, and foreign stocks For U.S. Form 1040 returns: A complete list of transactions for each fund owned at any time during the year — including dates, values, and number of shares or units for all purchases, sales, and dividends or other distributions — going back to the original purchase date if not previously provided. This information is available on your account statements or can be requested from your financial advisor, broker, or bank.

Non-U.S. trusts, pensions, and retirement accounts For U.S. Form 1040 returns: Statements for the entire year detailing all contributions to and distributions from the trust or plan, the value on January 1 and December 31, and the income earned within the plan — including dates and amounts of each transaction. You may need to request this from your trustee, plan administrator, or financial institution.

Mutual funds and ETFs held outside Canada For Canadian T1 returns: A complete list of transactions for each fund owned at any time during the year — including dates, values, and number of shares or units for all purchases, sales, and dividends or other distributions — going back to the original purchase date if not previously provided.

Trusts, pensions, and retirement accounts held outside Canada For Canadian T1 returns: Statements for the entire year detailing all contributions to and distributions from the trust or plan, the value on January 1 and December 31, and the income earned within the plan — including dates and amounts of each transaction.

Other income Any other amounts received from any source worldwide — including jury duty, strike pay, gambling winnings, and any other income not listed above. If you are unsure whether an amount is taxable, include the details and let your Tax Specialist assess it.

Retirement account contributions Receipts for amounts and dates paid if not already reported on a tax form or slip such as a W-2 or T4. For Canadian RRSP contributions: receipts for contributions made March through December of the tax year and the first 60 days of the current calendar year.

Foreign Tax Credit A copy of your tax return from the country where you paid the tax. For countries with a fiscal year other than the calendar year, provide both returns that fall within the calendar year plus a copy of your pay stub at December 31 of the prior year, December 31 of the current year, and the last pay stub received at the end of the foreign fiscal year showing year-to-date information. If no return was required, provide a year-end report or other document from the payer reporting total tax withheld.

Foreign Earned Income Exclusion (Form 2555) The number of days you were outside the U.S. during the year, dates you were in the U.S. and the purpose, and a list of eligible housing expenses (rent, utilities, etc.) including any amounts paid or reimbursed by your employer.

Charitable donations Official donation receipts and documentation supporting the value of any non-cash donations.

Child care expenses Receipt from the provider including the name of the child, date, amount paid, and the name and tax identification number of the provider.

Home office expenses See our Home Office Expense Worksheet for guidance.

Medical expenses A list of expenses incurred — including amount, date paid, and purpose. If you travelled outside your area for medical care, provide travel dates and locations. Note that pharmacies, dentists, doctors, chiropractors, and other providers can usually provide a year-end printout for tax purposes. See our Medical Travel Worksheet for guidance.

Investment expenses Fees to manage or maintain investments, and interest paid on loans used to purchase investments that produce taxable income.

Alimony and spousal support paid Copy of the separation agreement or divorce decree, amounts and dates paid, and the recipient’s name and tax identification number (for pre-2018 divorces).

Student loan interest Form 1098 or official receipt from the lender.

Legal fees Receipts for amounts paid to earn taxable income or to establish or increase support payments.

Educator expenses Receipts for materials purchased for direct classroom use.

Tax payments Estimated tax or installment payments made to a tax authority that are not reported on a tax form or slip — include the amount, date, and recipient of each payment.

Itemized deductions (U.S. Form 1040) Form 1098, mortgage interest, U.S. real estate taxes, insurance premiums, personal property taxes paid, and other itemized deductions.

Climate Action Incentive Credit (Canadian T1) Indicate who in the household is claiming the credit — only one claim per household is permitted.

Canada Workers Benefit Advance Payments (Canadian T1) RC210 slip.Moving expenses (Canadian T1) Moving expenses are deductible only when incurred to move closer to a new work location. Provide the location of your previous and new home and workplace, the distance of each move, and receipts for all moving expenses incurred.

1. FinCEN Form 114 (FBAR) – list of all accounts located outside the US and the highest value of the account during the year; you can use our FBAR worksheet; see FBAR Quicksheet for additional information if needed.
2. Forms 3520-A and 3520 – detailed statements from the trust/pension account/plan for the entire year; must include any contributions to/distributions from and all activity within the account/plan; include a breakdown of contributions made by the employer (if an employer-sponsored plan).
3. T1135 – list of all non-Canadian property (cash accounts, real estate, trusts located outside Canada, foreign stock/mutual funds/ETFs, etc.); must include the highest and 12/31 cost of each property; you can use our T1135 worksheet; see T1135 Quicksheet for additional information if needed.
4. Form 5471/8858/8865 – see our Foreign Entities Worksheet.

If you are self-employed or operate a business, complete the AET Business Worksheet in addition to providing the items below.

• Summary of all income received — by source and date
• Summary of all business expenses — by category and amount
• List of all assets purchased, sold, or disposed of during the year — including purchase price, date acquired, date sold or disposed of, and sale price
• If you use a vehicle for business: total kilometers or miles driven during the year, total business kilometers or miles, and a log of business trips if available
• If you have employees: payroll records and remittance summaries
• If you operate in more than one jurisdiction: a breakdown of income earned in each jurisdiction

Sale of real property For any real property sold during the year — including your primary residence: the original purchase price and date, any capital improvements made and their costs and dates, costs incurred to sell (commissions, legal fees), and the sale price and closing date. If the property was used as a rental at any point, provide the date it was converted to or from rental use and its fair market value at the time of conversion.

Rental property Summary of rental income received and expenses incurred during the year. See our Rental Worksheet for a full list of deductible expenses and guidance on capital items.

Foreign real property For U.S. persons: if the property was purchased, sold, or refinanced during the year, provide the original purchase documents, refinance documents, and sale documents. Currency conversion documentation may also be required.

Non-resident rental property (Canadian) NR4 slip from your property management company or tenant, Section 216 return if previously filed, and a summary of rental income and expenses for the year. See our guide to Canadian Rental Property for Non-Residents →