1. Gather your income documents

OK - we won’t lie - this step is a doozy. However it’s one of the most important, as you will need to have all of your income documents gathered before you can correctly prepare and file your tax returns. Please be aware that some of these documents are not always available electronically, so you may have to request a paper copy in the mail, which can take a couple of weeks to receive. Also, if you submit your tax return without all of your income documents, you can’t just send in a new copy - you will have to submit an amended return that corrects the error, and amended returns are out of scope for our clinic so we won’t be able to assist you.

Here is a list of the most common income documents, and the types of income they represent. These documents are all sent to you by the organization / person who paid you - you will never be creating one of these documents yourself. You will only get one of these types of documents if you have that type of income. If you think you should get one of these and haven’t received it, contact the organization that paid you. There are other forms, so if you receive a different document and you aren’t sure what to do with it, you can contact us at appstate.taxhelp@nrtaxhelp.org

• W-2: This form reports wages earned while working as an employee.

  • For App State members: Form W-2 is sent by postal mail no later than January 31. An electronic copy of your App State Form W-2 is available at  Appalnet.appstate.edu. Log into Self-Service, click on the Employee tab, click on Employee Dashboard, and choose Taxes. Make sure that you have selected "Consent to receive W2 electronically” and then go back to Taxes. Click on W2 Wage and Tax Statement, select Tax Year 2024 from the dropdown menu, and click Display. Scroll to the bottom of the screen and click Printable W-2. To save as a PDF, right click on your Form W-2, select Print, select PDF for Print Destination, and save to your computer.

• 1042-S: This form reports income for a nonresident alien that has special tax treatment. We commonly see 1042-S forms for treaty exempt wage income and scholarships / fellowships, but it is possible to receive this form for other types of income. We have a section about 1042-S forms in our FAQ.

  • For App State members: If you are the recipient of a Form 1042-S from App State, ISSSO will notify you by email no later than February 14. Form 1042-S is furnished to the recipient no later than March 15.

  • If you are the recipient of a Form 1042-S from App State and you have set up a Sprintax profile, you will receive an email no later than March 15 with instructions for accessing your Form 1042-S electronically. If you have not set up your Sprintax profile, contact Elisha Frye in the University Tax Compliance Office at fryeeh@appstate.edu to request an electronic copy; your Form 1042-S will be sent securely through FileShare.

• 1099-INT: The form reports interest you earned, usually from a checking or savings account. Bonuses for opening an account are usually considered interest and reported on this form.

• 1099-G: This form reports certain types of government payments. The most common situation where a 1099-G form is provided is to report a state income tax refund (though not all states provide these forms). This form can also report unemployment compensation.

  • For AppState Members: 1099-G forms for North Carolina Income Tax Refunds are sent by postal mail no later than January 31. Form 1099-G reports the amount of the tax refund you received from the North Carolina Department of Revenue from a prior tax year. For example, your 2024 Form 1099-G reports the refund on your 2023 North Carolina tax return. You will not receive a Form 1099-G if your North Carolina refund was less than $10 or you did not itemize your deductions on your federal return.

• 1099-B: This form reports the sales of stocks, mutual funds, commodities, and other securities, along with any tax that has been withheld. Please note that this form is out of scope for our clinic this year. We have a guide that you can use, and the software will support this form and information, but we cannot provide assistance in our tax appointments with how to properly report this income on your return.

• 1099-DIV: This form reports dividends received from U.S. stocks and mutual funds, along with any tax that has been withheld.

• 1099-NEC: This form reports non-employee compensation, and is usually received from work as an independent contractor. Please note that income of this type is out of scope for our clinic. The software will support this form and information, but we cannot provide assistance with how to properly report it on your return.

• 1099-MISC: This form reports other miscellaneous income, including prizes and awards. Please note that income of this type is out of scope for our clinic. The software will support this form and information, but we cannot provide assistance with how to properly report it on your return.

• 1098-T: This form reports payments to a school for qualified tuition and related expenses, along with adjustments and some scholarships and grants. This form is used by residents to claim education credits. Nonresident aliens aren’t eligible for these credits, and so if you get one you won’t use this form when you prepare your taxes.

  • For AppState members: Form 1098-T is sent by postal mail or email notification no later than January 31. An electronic copy of your App State Form 1098-T is available at Appalnet.appstate.edu. Log into Self-Service, click on the Student tab, click on Student Account Options, click on Tax Notification (1098-T), and select 2024 from the dropdown menu.

• 1095-B or 1095-C: These forms report your health care insurance information. These forms are not used for your federal tax return, but you might need them if your state has a health insurance mandate.

• 1095-A: This forms reports your health care insurance information if you purchased your health insurance through the Marketplace. Please note that this form and the associated credits / taxes are out of scope for our clinic. The software will support this form and information, but we cannot provide assistance with how to properly report it on your return.

• 2023 Tax Returns: If you filed a tax return last year, you will need a copy of that return (both federal and state, if you filed a state return). This is used to determine any extra tax you paid, any refunds you received, and some of the return information is used as a security check when you e-file your 2024 return.

  • If you prepared your return with us last year, we instructed you to keep a download pdf of your returns, so hopefully you can find it. You also may be able to import the info from your last year’s return when you log back into TaxSlayer.

  • If you can’t find your federal return, you can create an IRS online account and get a copy of your tax transcript. IRS Account

  • If you can’t find your North Carolina return, you can request a copy here: NC Prior Return Request

  • If you can’t find either set of returns, you may be able to look up on your banking history to determine any additional tax you paid / refunds you received. This won’t let you e-file your return this year, but it will let you prepare a correct return which you can then paper file.

• Student Account Statement: If you are a student at a college or university, then you also need to get a copy of your student account information for calendar year 2024.

  • Why do you need this, you ask? One main reason:

    • Schools do not always provide an income document for all scholarships and fellowships. You should have received an award letter that told you about the scholarship or fellowship,. If you didn’t receive an income document that matches your letter, you can contact your school’s payroll to ask if you will be receiving any other documentation, such as a 1042-S for your scholarship / fellowship. Unless the scholarship or fellowship is directly applied to your tuition or fees it is taxable (though you may be able to claim a treaty benefit and not have to pay any tax). The best way we’ve found to know what you received and how the funds were used is to look at your University account information.