When transferring, what information carries over to my return?
When you transfer from last year's tax data file, these items transfer over:
- Name, address, and filing status
- Social Security number
- Bank information for direct deposit of tax refunds
- Adjusted Gross Income (AGI)
- Self-select PIN, if you successfully e-filed your 2014 return
- Employer's name and address
- Form 1099 payer information (banks, stocks, mutual funds, retirement accounts, etc.)
- Deduction descriptions such as medical expenses and the names of charities
- Tax refunds that you applied to your 2015 tax liability
- Schedule C, including ending inventory
- Important: Click here for the proper way remove a Schedule C business that transferred over.
- Schedule F, including ending inventory
- Schedule E
- Business-use information
- Contribution, credit, state, and local tax carryover amounts
- Capital loss and passive loss carryovers
- Partnerships, S corporations, estates, or trusts that you have an interest in
- Depreciable items such as cars, equipment, and buildings
Note: Keep in mind, a .tax file from a previous year will not transfer if the file is password protected.