Paul Thomas, CPA wrote:
- quote -

I recently had notifications of class action suits regarding stocks (2
different ones) traded in 99-00. So having those records helped get me
the data I needed to submit my claim.

Joe

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"les" <lester12345[at]gmail.com> wrote
- quote -





The IRS says: http://www.irs.gov/publications/p552/ar02.html#d0e617
"You must keep your records as long as they may be needed for the
administration of any provision of the Internal Revenue Code. Generally,
this means you must keep records that support items shown on your return
until the period of limitations for that return runs out."



I like to pad that a bit for E&O. So for the returns themselves, I'd
suggest at least 10 years. The supporting documents, I'd suggest at least 5
years.

That is of course, based on not hearing anything from the IRS or state. If
audited, keep them longer from the last time you heard from them.



--
Paul A. Thomas, CPA
Watkinsville, Georgia

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I am in the process of moving and have 15 years' folders of back
Federal Tax Forms (1040) and back-up data. I would like to discard as
much as possible before I move.

How many years worth of forms / backup should I keep?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >