2 ms·
I've always gone with the IRS advice that nothing older than 7 years is needed. Maybe someday I'll regret it but so far it hasn't happened.
by emodendroket 4y ago
I've always gone with the IRS advice that nothing older than 7 years is needed. Maybe someday I'll regret it but so far it hasn't happened.
- sowbug 4y agoYeah, that's the right number, but the context is slightly incorrect. If in 2022 you claim a lowered capital gain based on a home renovation you did in 2001, then you need to save those 2001 receipts for seven years, i.e. until 2029. The date on the receipts doesn't matter; the seven-year clock starts ticking only when you involve them in a taxable event.