Many taxpayers are preparing for their annual battle with IRS form 1040 by gathering up all their documents, statements, checks and other assorted papers. At the end of this process, taxpayers are often left with piles of neatly sorted, tabulated and cross-indexed piles. From a homeowner's perspective just what documents do you need to keep, and for how long?
If you bought a house last year, ask your Realtor to send you a copy of your Final HUD 1 statement. I do that for all of my clients each year and it saves them from looking through their papers. Still hang onto all of your paperwork associated with your purchase or sale but your agent can make the process a bit easier as we keep copies of all of our files for at lease 7 years.
Cheers,
Victria
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