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See for yourself by reading reviews on the most popular resources:
Jeremy B
2019-02-11
Very helpful tool for 1099. How do you auto populate though. I find it tedious to manually type the same info over and over. Still WAY better than the alternative though. Thanks.
5
Ebony Johnson
2020-04-15
I love this tool I love this tool. I shared it with my mom who still has to fax things and I did not want her leaving her home to fax at other businesses. I think a video on how to create more fillable boxes would be helpful. Although I figured it out, it took me about 30 minutes. I can imagine for even less tech savvy people it could take longer.
5
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Those should be saved for at least three years (preferably six years) after the due date for the applicable year's tax return.
No need to keep them at all. Once a new deed was prepared and recorded for the new owner, your old deed had no legal significance.
Your real estate agent should be able to give you copies of the transaction documents because brokers are required to keep a file on each buyer and seller. But closing documents are typically kept by the closing agent, lawyer, or escrow officer.
After you sell the house, keep the documents for three years.
However, you'll definitely want to keep proof of any loans, mortgages (also called deeds of trust), and deeds in your name that have been paid off and recorded among the land records in the state or county where the property was sold.
Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return. Keep records indefinitely if you do not file a return.
Bank statements Keep monthly statements for one year. Keep annual statements related to your taxes for at least seven years. They provide proof of income from interest-bearing accounts and can be a record of tax-related transactions.
You probably learned that you should keep a tax return for at least three years after filing it. The reason for the three-year answer is that the IRS has up to three years to audit you and assess additional taxes. The IRS can go back six years when more than 25% of income was omitted from the tax return.
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