Recordkeeping - How long should I keep tax returns?
This link provides IRS guidelines for keeping
We recommend most
tax returns be kept seven years, but some tax returns and
associated records should be retained longer!
Example #1. If you own mutual funds, keep record of fund purchase and reinvested dividends for as long as you own that mutual fund plus three years.
Example #2. If you participate in a stock purchase plan, keep records (paystubs) for share purchases as long as you own the stock plus three years.
Example #3. If you own real property, keep records of the purchase, improvements, and sale for at least three years after selling the property.
Example #4. Keep W-2 copies until you file for Social Security benefits in case you need to substantiate or verify information in your earnings record.
Example #5. Keep basis information for Roth IRA and non-deductible IRA contributions (Form 8606) for as long as you own those investments.