The income document is a paper/PDF form you'd receive usually around the end of January, reporting the money you earned for the previous year and all the taxes withheld on both Federal and State level.
The income documents are usually one of the below:
- W-2 - Reporting income from employment mostly;
- 1042-S - Reporting taxable scholarships with income code 16, income from employment with income code 20 etc. (basically the form can report any type of income and as long as you find the income code in box 1 of the 1042-S form itself on the Sprintax platform, then you can file with us);
- 1099-B - Barter and Broker income (from trading stocks and crypto);
- 1099-DIV - Dividends;
- 1099-INT - Interest income;
- 1099-NEC - Nonemployee compensation income (for example if you worked as a freelancer);
- 1099-MISC - Reporting certain miscellaneous compensation including rent, royalties, prizes, and awards, healthcare payments etc.;
- 1099-G - Government Payments - Usually reports the state refund from the previous year.
In case you have Schedule K-1 as well as any income from selling houses etc. you cannot file with Sprintax and would need to file your tax return with an accountant.