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User Name Thread Name Subject Posted
GUEST,anonymous BS: don't de-clutter your financial files (24) RE: BS: don't de-clutter your financial files 14 Apr 13


John, your troubles have nothing to do with my statement. I said you could get the forms for reporting IRA basis. (Basis is how much of your own money you've got in something, whether it's a retirement account or a typewriter.) The forms are blank, ready for the taxpayer to fill in correctly and re-file.

No matter how many years you hold on to something, you need to keep track of its basis. Ignore columnists who tell you to throw away records after three years or seven years. Those people probably live paycheck to paycheck and don't know anything about saving for the future.

Of course, we all get stuff we don't need. We can pitch the paper which tells us that Johnson Hicks is replacing Hicks Johnson as a board member. But if a paper has your name on it and a dollar amount which you have either put in or taken out, you need to keep it.


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