Generally, you should keep all
records for at least seven years, and certain records should be kept
even longer.
Example |
You purchased stock in
General Electric in 1980 and you sold all of the shares in year
2012. You should keep all of the 1980 records regarding both the
purchase and sale of the GE stock until at least the end of 2019.
|
All tax returns should be kept
forever, and if you are uncertain whether to keep or throw your old
records away - keep them.
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