How to Get Ready for the Tax Preparer

By Tobie Stanger

If you’re meeting a new preparer, take the last three years’ worth of returns and supporting worksheets, says Eric Bronnenkant, a CPA and head of the tax department at Betterment, an online investment company based in New York.

Your tax history is particularly important if you reported investment losses in prior years. You may be able carry over and claim a portion of those losses on subsequent returns.

“It’s common to lose carryovers when switching accountants,” Bronnenkant says. “This potentially creates a situation where you could pay substantially more in taxes.”

This article originally published January 28th, 2019 on Consumer Reports