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How long must personal checkbooks be held?

Last Updated: January 21, 2010

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If you are referring to the checkbook register in which you record checking account deposits and checks that are written, a good guideline is six years, which will provide ample time to use the checkbook register as "evidence" in the event of an IRS tax audit. Of course, much better documentation than the checkbook is canceled checks themselves or the miniature photocopies that are sent along with your periodic checking account statement. Save all receipts and proof of payment for most home improvements until you sell your home; this information provides proof of the improvements you have made. A good resource to consult is Publication 552, "Recordkeeping for Individuals," available for download from the Internal Revenue Service at www.irs.gov.

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