Hang onto those supporting documents for your tax return

WASHINGTON (AP) - Now that the tax filing deadline is here, it's time to focus on all those documents that support your return.

Keep copies of your returns forever. They can help when you apply for a mortgage or disability insurance or need the value of your assets. To save space, you can scan the returns and keep a digital archive.

Also save your canceled checks, receipts for home purchase costs, home improvements, and statements for credit-card and bank accounts, your home mortgage, stocks and mutual funds.

The IRS could audit you for up to three years, so keep those documents for at least that long.

Sound: upcoming

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 255286921 - wkyt.com/a?a=255286921
Gray Television, Inc.