Question

question 3 of 3
to file your taxes, you need to start by collecting all the necessary documents. which answer selection is the best describing what is needed?
a record of your income and receipts for any deductions you want to claim
receipts of all purchases that you made in the past year
spreadsheets of all banking and investing accounts that you have
a record of stocks and bonds that you bought in the past year

Explanation:

To file taxes, you need records of income (to report earnings) and receipts for deductions (to prove eligible expenses for reducing taxable income). The other options are too narrow: receipts of all purchases (not all purchases are deductible), spreadsheets of banking/investing accounts (not specific to tax - related income/deductions), and stock/bond records (only relevant if there are taxable transactions, not a general tax - filing need).

Answer:

A. A record of your income and receipts for any deductions you want to claim