How Long Do I Need to Keep Tax Documents?

Robert asks how long to keep tax documents.

QUESTION: Robert on Twitter asks how long to keep tax documents.

ANSWER: Usually five to seven years is good on almost anything like that. Some people keep them forever. I’ve actually got my tax returns since the beginning, which is kind of ridiculous, but I’m pretty much a nerd and I’ve got a big attic, so I’ve got room. It’s not a big problem. I have no idea why I’ve kept them.

Five to seven years is the thing for most people. You don’t want to just store stuff for no particular reason unless you’re a nerd like me.