How Long Should I Save My Tax Return?

Clients always ask how long they should keep their tax returns and documentation.

Here at Pace Accounting we generally suggest the following:

Tax Returns

Retain your return for a period of at least 5 years.

Supporting Documents

Keep all bank statements, checks, receipts, and other financial records for at least three years, especially those documents that will support your tax return figures.

Home Purchase or Sale Documents

Hold indefinitely all papers and receipts that deal with any purchase, sale, and major improvements of your current and all previous principal residences.