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|Subject: Re: Old IRA confirmation documents||Date: 8/28/2000 2:50 AM|
|Author: TMFExRO||Number: 24395 of 81979|
Over the years I have kept all the confimation doucments of the the purchase and sales of each stock.
Since this is an IRA, is there any purpose to keeping all these documents or should I just dispose of them?
Well, you could develop cracks in your bathroom wall, but for tax purposes you don't need them. Once they've served their purpose you can pitch them.
Just so we don't get carried away here, I do recommend that you always keep something that shows your holdings, but you don't need that for tax purposes, you need it for asset protection. For tax purposes all you need is a confirmed record of your contributions and your basis, if you've made nondeductible contributions to a traditional IRA.
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