Taxmap/pubs/p552-001.htm#TXMP70d6eda7
Kinds of Records To Keep

Taxmap/pubs/p552-001.htm#TXMP431735a3
Note.Keep Copy C of Form W-2 for at least 3 years after the due date for filing your tax return. However, to help protect your social security benefits, keep Copy C until you begin receiving social security benefits, just in case there is a question about your work record or earnings in a particular year.

Taxmap/pubs/p552-001.htm#TXMP67ae6640 Expenses.

Your basic records prove the expenses for which you claim a deduction (or credit) on your tax return. Your deductions may include alimony, charitable contributions, mortgage interest, and real estate taxes. You may also have child care expenses for which you can claim a credit.

Taxmap/pubs/p552-001.htm#TXMP205fa702 Home.

Your basic records should enable you to determine the basis or adjusted basis of your home. You need this information to determine if you have a gain or loss when you sell your home or to figure depreciation if you use part of your home for business purposes or for rent. Your records should show the purchase price, settlement or closing costs, and the cost of any improvements. They may also show any casualty losses deducted, insurance reimbursements for casualty losses, and postponed gain from the sale of a previously-owned home.

For information on which settlement or closing costs are included in the basis of your home, see Publication 530, Tax Information for First-Time Homeowners. For information on basis, including the basis of property you receive other than by purchase, see Publication 551, Basis of Assets.

When you sell your home, your records should show the sales price and any selling expenses, such as commissions. For information on selling your home, see Publication 523, Selling Your Home.

Taxmap/pubs/p552-001.htm#TXMP0d789fbb Investments.

Your basic records should enable you to determine your basis in an investment and whether you have a gain or loss when you sell it. Investments include stocks, bonds, and mutual funds. Your records should show the purchase price, sales price, and commissions. They may also show any reinvested dividends, stock splits and dividends, load charges, and original issue discount (OID).

For information on stocks and bonds, see Publication 550, Investment Income and Expenses. For information on mutual funds, see Publication 564, Mutual Fund Distributions.

Taxmap/pubs/p552-001.htm#TXMP5c8d0d22 Proof of Payment

Proof of Payment

One of your basic records is proof of payment. You should keep these records to support certain amounts shown on your tax return. Proof of payment alone is not proof that the item claimed on your return is allowable. You should also keep other documents that will help prove that the item is allowable.

Generally, you prove payment with a canceled check or cash receipt. If you do not have a canceled check because your bank does not return canceled checks or if you make payments by credit card or electronic funds transfer, you may be able to prove payment with an account statement.

If you make payments in cash, you should get a dated and signed receipt showing the amount and the reason for the payment.

Taxmap/pubs/p552-001.htm#TXMP032897b8 Account statements.

You may be able to prove payment with a legible financial account statement prepared by your bank or other financial institution. These statements are accepted as proof of payment if they show the items in the following table.

Taxmap/pubs/p552-001.htm#TXMP04892573 Pay statements.

If you have deductible expenses withheld from your paycheck, such as union dues or medical insurance premiums, keep your pay statements as proof of payment of these expenses.

IF payment is by...	THEN the statement must show the...
Check	Check number Amount Payee's name Date the check amount was posted to the account by the financial institution
Electronic funds transfer	Amount transferred Payee's name Date the transfer was posted to the account by the financial institution
Credit card	Amount charged Payee's name Transaction date

Taxmap/pubs/p552-001.htm#TXMP6f1bcebd Specific Records

Records, Specific

This section is an alphabetical list of some items that require specific records in addition to your basic records.

Taxmap/pubs/p552-001.htm#TXMP44654883 Alimony

Alimony

If you receive or pay alimony, you should keep a copy of your written separation agreement or the divorce, separate maintenance, or support decree. If you pay alimony, you will also need to know your former spouse's social security number. For information on alimony, see Publication 504, Divorced or Separated Individuals.

Taxmap/pubs/p552-001.htm#TXMP35119d60 Business Use of Your Home

Home Office

You may be able to deduct certain expenses connected with the business use of your home. You should keep records that show the part of your home that you use for business and the expenses related to that use. For information on how to allocate expenses between business and personal use, see Publication 587, Business Use of Your Home.

Taxmap/pubs/p552-001.htm#TXMP2298182c Casualty and Theft Losses

Casualty and Theft Loss

To deduct a casualty or theft loss, you must be able to prove that you had a casualty or theft. Your records also must be able to support the amount you claim.

For a casualty loss, your records should show:

• The type of casualty (car accident, fire, storm, etc.) and when it occurred.
• That the loss was a direct result of the casualty.
• That you were the owner of the property.

For a theft loss, your records should show:

• When you discovered your property was missing,
• That your property was stolen, and
• That you were the owner of the property.

For more information, see Publication 547, Casualties, Disasters, and Thefts (Business and Nonbusiness). For a workbook designed to help you figure your loss, see Publication 584, Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property).

Taxmap/pubs/p552-001.htm#TXMP243f54bf Child Care Credit

Child Care Credit

You must give the name, address, and taxpayer identification number for all persons or organizations that provide care for your child or dependent. You can use Form W-10 or various other sources to get the information from the care provider. Keep this information with your tax records. For information on the credit, see Publication 503, Child and Dependent Care Expenses.

Taxmap/pubs/p552-001.htm#TXMP08d44fde Contributions

Contribution

The kinds of records you must keep for charitable contributions depend on the amount of the contribution and whether the contribution is in cash. For information on contributions, see Publication 526, Charitable Contributions.

Taxmap/pubs/p552-001.htm#TXMP45a9c936 Contributions from which you benefit.

Generally, if you make a charitable contribution that is more than $75 and is partly for goods or services, the organization must give you a written statement that you should keep.

Taxmap/pubs/p552-001.htm#TXMP14461117 Cash.

Cash contributions include those paid by cash, check, credit card, or payroll deduction. For each cash contribution, you must keep one of the following:

• A canceled check or a financial account statement,
• A receipt from the organization showing the name of the organization, the amount, and date of the contribution, or
• Other reliable written records that are reasonable under the circumstances and that include the name of the organization, the amount, and the date of the contribution.

Taxmap/pubs/p552-001.htm#TXMP49e3937c Contributions of $250 or more.

You can deduct a contribution of $250 or more only if you have a written acknowledgment of your contribution from the organization.

Taxmap/pubs/p552-001.htm#TXMP33b7c167 Out-of-pocket expenses.

You should keep records of your out-of-pocket expenses when you perform services for a charitable organization. You can record these expenses in a diary. For example, if you use your car when doing volunteer work, you should record the name of the organization and the unreimbursed gas and oil expenses directly related to the volunteer work. If you do not want to keep records of your actual expenses, you can keep a log of the miles you drove your car for the charitable purpose and use the standard mileage rate shown in Publication 526. You should also keep records of any parking fees, tolls, taxi fares, and bus fares.

Taxmap/pubs/p552-001.htm#TXMP6a5f6ad2 Property.

For each contribution of property, you must keep a receipt from the organization showing:

• The name of the organization,
• The date and location of the contribution, and
• A reasonably detailed description of the property.

A letter or other written communication from the organization containing the above information will serve as a receipt.

You also must keep reliable written records for each item of donated property. These records must include the:

• Fair market value of the property at the time of the contribution,
• Cost or other basis of the property, and
• Terms of any conditions attached to the contribution.

For more information on donated property, see Publication 526.

Taxmap/pubs/p552-001.htm#TXMP5d1fdd54 Credit for the Elderly or the Disabled

Credit for the Elderly or the Disabled

If you are under age 65, you must have your physician complete a statement certifying that you were permanently and totally disabled on the date you retired.

You do not have to file this statement with your Form 1040 or Form 1040A, but you must keep it for your records.

Taxmap/pubs/p552-001.htm#TXMP4db8ed95 Veterans.

If the Department of Veterans Affairs (VA) certifies that you are permanently and totally disabled, you can substitute VA Form 21-0172, Certification of Permanent and Total Disability, for the physician's statement you are required to keep. See Publication 524, Credit for the Elderly or the Disabled, for more information.

Taxmap/pubs/p552-001.htm#TXMP02673687 Employee Business Expenses

Employee Business Expenses

If you have employee business expenses, see Publication 463, Travel, Entertainment, Gift, and Car Expenses, for a discussion of what records to keep.

Taxmap/pubs/p552-001.htm#TXMP3157cec8 Gambling Winnings and Losses

Gambling

You must keep an accurate diary of your winnings and losses that includes the:

• Date and type of gambling activity,
• Name and address or location of the gambling establishment,
• Names of other persons present with you at the gambling establishment, and
• Amount you won or lost.

In addition to your diary, you should keep other documents. See the discussion related to gambling losses in Publication 529, Miscellaneous Deductions, for documents you should keep.

Taxmap/pubs/p552-001.htm#TXMP2a4e5963 Individual Retirement Arrangements (IRAs)

IRA

Keep copies of the following forms and records until all distributions are made from your IRA(s).

• Form 5498 or similar statement received for each year showing contributions you made, distributions you received, and the value of your IRA(s),
• Form 1099-R received for each year you received a distribution, and
• Form 8606 for each year you made a nondeductible contribution to your IRA or received distributions from an IRA if you ever made nondeductible contributions.

For a worksheet you can use to keep a record of yearly contributions and distributions, see Publication 590, Individual Retirement Arrangements (IRAs) (Including Roth IRAs and Education IRAs).

Taxmap/pubs/p552-001.htm#TXMP6c29cbb1 Medical and Dental Expenses

Dental and Medical Expenses

In addition to records you keep of regular medical expenses, you should keep records on transportation expenses that are primarily for and essential to medical care. You can record these expenses in a diary. You should record gas and oil expenses directly related to that transportation. If you do not want to keep records of your actual expenses, you can keep a log of the miles you drive your car for medical purposes and use the standard mileage rate. You should also keep records of any parking fees, tolls, taxi fares, and bus fares.

For information on medical expenses and the standard mileage rate, see Publication 502, Medical and Dental Expenses.

Taxmap/pubs/p552-001.htm#TXMP0e5b800c Medical Savings Account

MSA

For each qualified medical expense you deduct or pay with a distribution from your medical savings account, you must keep a record of the name and address of each person you paid and the amount and date of the payment. For more information on medical savings accounts, see Publication 969, Medical Savings Accounts (MSAs).

Taxmap/pubs/p552-001.htm#TXMP2fea1749 Mortgage Interest

Mortgage Interest

If you paid mortgage interest of $600 or more, you should receive Form 1098, Mortgage Interest Statement. Keep this form and your mortgage statement and loan information in your records. For information on mortgage interest, see Publication 936, Home Mortgage Interest Deduction.

Taxmap/pubs/p552-001.htm#TXMP49d222f6 Pensions and Annuities

Pensions and Annuities

Use the worksheet in your tax return instructions to figure the taxable part of your pension or annuity. Keep a copy of the completed worksheet until you fully recover your contributions. For information on pensions and annuities, see Publication 575, Pension and Annuity Income, or Publication 721, Tax Guide to U.S. Civil Service Retirement Benefits.

Taxmap/pubs/p552-001.htm#TXMP6aa7e660 Taxes

Your Form W-2 shows the state income tax withheld from your wages. If you made estimated state income tax payments, you need to keep a copy of the form. You also need to keep copies of your state income tax returns. If you received a refund of state income taxes, the state may send you Form 1099-G, Certain Government and Qualified State Tuition Program Payments.

Keep mortgage statements, tax assessments, or other documents as records of the real estate and personal property taxes you paid.

Taxmap/pubs/p552-001.htm#TXMP2ab28ca5 Tips

Tip

You must keep a daily record to accurately report your tips on your return. You can use Form 4070A, Employee's Daily Record of Tips, which is found in Publication 1244, Employee's Daily Record of Tips and Report to Employer, to record your tips. For information on tips, see Publication 531, Reporting Tip Income.

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