| To junk or not to junk ... that always seem to
be the question at the beginning of each year.
Here is a guideline which will get you started. The retention
holding period starts on the filing date of the applicable tax
return.
Please remember ... this is just a Guideline. If you are unsure
about a particular item, I suggest you obtain advice from your personal
accountant.
|
|
ITEM |
RETENTION PERIOD |
|
Income, estate and gift tax returns |
Indefinitely |
Tax return supporting documents
(Bank statements, cancelled checks, credit card statements, deduction
receipts, etc. |
4 years (6 if space is not critical) |
| Real estate escrows and investment property |
4 years after property is sold |
| Nondeductible Retirement Plan contributions |
4 years after withdrawal of assets |
Other personal records
(Wills, deeds, trusts, divorce and property) |
Permanently (safe deposit box) |
|
