As the tax deadline approaches, US citizens are gearing up to prepare and file their taxes. While most income and expenses are easily accessible from banks and investment firms, electronic payment systems like the Apple Card pose a unique challenge.
For those with an Apple Card Savings Account that earns interest or use the card for deductible expenses, keeping track of transactions is essential for tax purposes. Apple is required to send a 1099 form for savings accounts earning more than , but deductible expenses must be documented by the user.
To access records of transactions, users can navigate through the Wallet app on their iPhone. By selecting the Apple Card, tapping on the Savings Account, and accessing the Documents section, users can find their tax documents for the appropriate year. From there, users can either print the form or export it as a PDF for record-keeping.
Additionally, users can check their monthly statements in the Wallet app to track expenses and transactions. By selecting the Card Balance, users can view statements for each month and export transactions in various formats such as CSV, OFX, QFX, or QBO. This information can be useful for Quicken or QuickBooks users or can be saved as a CSV file for Excel.
By following these steps and collecting data for all 12 months, users can easily filter and highlight deductible expenses for tax write-offs. Ensuring that all transactions are properly documented is crucial for a stress-free tax season.
