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How long should you keep your utility bill statements?

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2008-03-10 19:52:36
2008-03-10 19:52:36

The site I went to said if you are writing off your utility bills for taxes, then you need to keep them as tax records. Otherwise, keep 3 months--this establishes residency for mortgage apps, voter registration, drivers license, etc.

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AnswerYou should keep your statements because you need them for when taxes come out.And since you must keep tax-related records for 7 years, you potentially should keep them for that long. Reference the related link below.Other OpinionsSince you can only dispute a charge within the first 60 to 90 days of it being entered then it is generally safe to discard statements after the 90 day period for dispute has expired.

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YOu should keep bank statement for 7 years, in case you get audited

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You should keep utility and credit card bills for 60-90 days because that is the maximum lenght of time to report any disputes. For credit cards, keep at least a year if you purchased any deductions.

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Unless they involve business or personal deductions on your income tax returns, you don't have to keep them at all.


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