Debbie has nearly 20 years of investigative experience and journalism on topics of insurance, mortgage, and financial advice.

1-090-1197-9528
debbie@moneystrategieswithdebbie.com

Money Strategies with Debbie

IRS – what do they say about keeping your old IRA statements?

How long should you keep your old IRA statements? Record keeping requirements are stringent for traditional IRSs whose contributions are generally tax -deductible on the way in, while withdrawls are taxable on the way out.

The paperwork you keep is to validate your claim of what’s taxable and what is not. It is best that you keep what was put in after tax – best not to mix them at all.

Keep all originals – the IRS does not accept a hand made spread sheet – no matter how pretty it looks.

If you have questions about rolling over an old 401K to an IRA -contact me. I will be happy to help you find the right funds with low costs to put it in.

Debbie