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Once a year I evaluate the stocks in my IRA which at times requires that I trim the deadwood out and buy new.
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?

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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.

TMF ExRO
Phil Marti
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Man, I have a lot of cracks I could patch. Now I have an idea on what to patch with. Thanks.
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This is great news for me too. I'm glad that someone asked that question.

I've got boxes (and boxes) of IRA paperwork in my basement because I thought I had to keep all that stuff until I retired.

Whew! What a relief.
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