Posted by Paul on August 26, 2014 at 10:04:11 from (76.77.203.247):
In Reply to: Paper work posted by 37Chief on August 26, 2014 at 09:07:40:
In theory you need to keep 3 years.
However if they find something wrong they can go back 3 more years.
And, then for 6 years ago, you might need so e paperwork from the 3 years before that to prove the 6 years ago stuff.
So it ends up 10 years to be safe, tho 3-6 years for a lot of the common papers is long enough.
But, then, if you built a building, or did a major upgrade like new wiring or well, and are deducting that on a 20 year plan, then you need to keep that sort of paperwork for the full 20 years.
I feel your pain, I am a terrible paperwork sorter outer and keeper.....
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