![]() Federal returns can be audited for up to three years after filing (six years if underreported income is involved), so all records substantiating tax deductions should be kept at least that long. How long should records be kept? Just how long you should keep records is partly a matter of judgment and a combination of state and federal statutes of limitations. Here is what I gleaned from some random (but authoritative-sounding) web site: I know there is a rule-of-thumb 5 or 7 seven year limit, but, like most things, it gets more complicated. This motivated me to do a quick online search. So I may be able to donate them and rest peacefully in the knowledge that they are being put to a final good use instead of just being thrown in the garbage. Nursing homes and long-term care facilities like to have a supply of cards, pictures, etc. She had also kept all our old school report cards (eI recently came across a suggestion for disposal of the old greeting cards that I plan to look into. So I now have a large envelope full of the cards Mum received from her baby showers and when I was born. ![]() She solved part of her problem by passing on to my sister and me stuff that related to us. I don't have the heart to throw them out but, really, what am I keeping them for? I think I get it from my mother - she's the same. that I have been given, mostly by family, over the years. Photos get kept forever! The stuff I have the hardest time with is the huge carton of cards - birthday, Valentines, etc. I generally follow the 5-year guideline for household and tax records.
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