Blueridge Posted January 21, 2011 Share Posted January 21, 2011 Hi all. I have boxes and boxes of records and am trying to declutter and reduce the amount of boxes we have in our basement. So, what is it prudent to keep? I pray that we are never audited, but my poor sister was recently, so you never know. :tongue_smilie: So, besides the actual tax forms and receipts that were used for the tax preparation for the last 5-7 years, what is necessary to be kept? I imagine that we don't need old electric bills and grocery receipts! Quote Link to comment Share on other sites More sharing options...
Brenda in FL Posted January 21, 2011 Share Posted January 21, 2011 Electric bills and grocery receipts - no, you don't need to keep them. (Unless they are are for some sort of business expense!) Just keep receipts that support deductions that you took in your tax return. I just keep all the supporting documentation for my numbers with my copy of the return. Quote Link to comment Share on other sites More sharing options...
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