How long should you keep documents?

How long should I keep documents?

Auto Records - While active (As long as you own it. Hold on to sales transaction data for 6 years after the car is sold or traded)
Insurance Policies - While active (After you receive the updated police, shred the old)
Warranties & Contracts - While active (Toss when expired)
Paid Bills - While active - After payment has gone through the bank you can shred them. but for insured purchases, keep paperwork as long as you own the item.
Paycheck Stubs - One year (just make sure you W-2 matches)
Quarterly Investment Records - One year (to confirm your annual statement is accurate)
Credit Card & Bank Statements - Seven years (proof if you file an insurance claim & as backup for taxes.)
Receipts & Documentation for Tax-Deduct. purchases - Indefinitely (If the IRS believes you have underreported you income by more than 25 percent then they can go back as far as the want).
Tax Returns - Indefinitely
House - Related Records - Indefinitely (closings, deeds, assessments, & home-improvement expenses)
Most IRA contributions - Indefinitely (proof you already paid taxes on this income)
Annual Investment Statements - Indefinitely (Until you sell the securities.)

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