This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax.
#Tax papers full#
Let an expert do your taxes for you, start to finish with TurboTax Live Full Service. The IRS can audit you as many years back as they would like if it suspects fraud, so keeping tax returns and supporting documents for at least seven to 10 years can put you on the safe side. Generally, the IRS can audit you for three years after a filing date, and in some cases even longer, so hold onto your return copies and supporting documents just in case. You'll likely need to provide this document to get a mortgage, apply for student loans and to check the status of your refund on the Internal Revenue Service's "Where's My Refund?" web page. The value of a tax return doesn't end on the day you file it. Remember, when you use TurboTax to prepare your taxes, we'll ask you simple questions to ensure you don't overlook any possible deductions. Certain energy efficiency improvements also may help you reduce your tax liability.
Home improvements such as wheelchair ramps recommended by a doctor may be deductible as medical expenses if you itemize deductions. It's good to keep your closing documents in case you paid real estate taxes or points when you closed that don't appear on your year-end mortgage interest statement. Home improvement invoices, receipts and proof of payment.New homeowners should keep paperwork such as: When you sit down to prepare your return, have these documents for dependent children close at hand:īuying a home presents tax-saving opportunities. Documents related to life events should all be saved, such as records of:Ī newborn brings joy into your life and potential tax advantages.
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