01/06/2026
Start 2026 Clutter-Free: Tips on financial paperwork to keep and when to toss
Medical Bills
• Keep only if you’re deducting expenses on your taxes. Otherwise, toss after the claim is paid.
Utility Bills
• Once paid, they can go. Keep up to a year if you’re planning to sell your home.
Major Loans & Insurance Docs
• Keep these, along with important IDs (birth certificate, passport, Social Security card).
• Payoff statements: keep forever.
Annual Tax Returns & Supporting Docs
• Keep the last 3 years. The IRS can audit up to 7 years—see irs.gov for details.
Paystubs
• Keep until you receive your annual W-2.
Property Records
• Keep records of home improvements until you sell the house—they help with capital gains.
Bank Statements
• Keep for 1 year.
Investment Documents
• Keep capital gains reports for 3 years.
