How Long Is Long Enough?

Generally speaking, tax returns and related documents should be retained for at least as long as the IRS or a state taxing authority is permitted to audit that return. This period of time is referred to as the statute of limitations. It's three years from the date the tax return was actually filed for federal returns, or three years from the April 15 deadline if the return was filed before the deadline.

Each state has its own statute of limitations on audits. Many states follow the federal time period of three years, but others have longer time periods.

For example, Montana has a five year time period for audits.

https://www.thebalance.com/how-long-to-keep-tax-returns-3973943

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That said, I have mine going back to the mid-1980s. They are all in the same place, one huge envelope.

When you discard the old ones, be certain to shred them.

My first thought when I read the OP was, "Is that Trump asking the question?" I'm sure there's lots of other evidence he's destroyed.

as well as supporting documents. The seven years is if you wrote off a bad debt or worthless security. The three years is from filing. Documents that establish a basis in assets that you still hold must be kept.

That said, you asked how long I keep them. I keep all of them. I've shredded the supporting documents from ones older than five years. I look through them occasionally and remember the good and bad jobs.

I always paid dad back.

Thanks

I hope it is treatable with dispatch and success.

I've been feeling that "getting older sucks" feeling lately. Walking has become painful for me. Different doctors have different ideas about this and I'm working through them. So far no change.

things start to get interesting.

Boy was he right.

Walking is still OK. But colds tend to last longer. We stay home longer now that we hear that the flu is more dangerous. Even when vaccinated.

Had cataract last year. Told them to leave prescription the same, which is what Medicare pays, anyway.

Dumped the contact lenses and even though glasses do have gradient vision, a lot easier to remove them for close reading, as I am doing right now in front of my computer.

Then I got rained out.

I'd been extremely nearsighted all my life, wore glasses and contact lenses. Then cataracts took root and when I was 63 I had cataract surgery. No more contacts, just reading glasses. I open my eyes in the morning and I can see! I'm still not over the wonder of it.

So when your eye doctor says it's time for the surgery, do NOT hesitate. I believe it is by far the commonest surgery done in this country and is highly successful.

Medicare, so having to get an artificial part does not enthuse me. Thanks for your reassurance.

Cataracts are incredibly common. I'm sure they're the main reason old people generally used to go blind. No longer.

Whenever you finally need the surgery, your vision should be restored back to what it was before.

The only thing that can make cataract surgery a bit iffy is if you've had radial keratotomy or any other surgery to correct vision. Apparently that surgery makes it a bit tricky to figure out exactly what kind of lens needs to be inserted when the cataract is removed. Sounds like you haven't had any such thing.

I was so very nearsighted that I used to joke that it was fortunate that my fingers and toes were attached, because I'd never been able to find them otherwise.

It is incredibly common surgery here in Florida. Thanks again.

the extent of the cataracts themselves. They can affect your vision in quite strange ways -- mine actually improved in some ways -- and eventually you can't see at all. They affect color vision and night vision quite a bit.

I had first been told I had cataracts about twenty-five years ago, but they did nothing much until all of a sudden, and then wham! I hadn't connected my vision changes to them, but when the eye doctor said I needed to get the surgery I did a bit of on-line research and what I was experiencing was classic.

Probably the very best thing with the modern cataract surgery is once they're removed, they won't come back. In the old days they didn't have the techniques to remove the cataracts completely, so they could grow back. Not any more. Of course, other things could happen to your eyes but I just don't worry about such things.

but I think it is time to get rid of the rest.