2007-04-02 16:51:21 · 4 answers · asked by Jonathan C 2 in Business & Finance ➔ Taxes ➔ United States
I keep all of my records for 10 years. In case of an audit, that's how long they can go backwards or forwards to look for problems.
And, too, keep any records that involve investments you still own or property that you're still depreciating until they're disposed of.
2007-04-02 17:04:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
7 years unless you have tax issues that live longer than that. Depreciation records, capital loss carryovers, and charitable deductions limited by the 50% rule are examples of things that may require you to keep your records much longer than that.
2007-04-03 00:00:22 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
by law one is supposed to keep personal Tax Records for 7 (seven) years. hope this helps!!
2007-04-02 23:55:46 · answer #3 · answered by Peter 1369 2 · 0⤊ 0⤋
I've always thought it was 7 years. I don't have any authority for this but the feds have a pretty good website that probably has the answer.
2007-04-02 23:55:56 · answer #4 · answered by Poopsie 1 · 0⤊ 1⤋