How long should I keep paid medical bill stubs?
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AmandaL asked:
Ive had stuff for 2 and 1 years.Im running out of room on my shelves.Is it necessary to keep medical bill stubs for more then a year??
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Ive had stuff for 2 and 1 years.Im running out of room on my shelves.Is it necessary to keep medical bill stubs for more then a year??
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October 12th, 2009 at 6:00 pm
Of course, if you used any of these bills as an income tax deduction, you DO want to hang on to them for several years, as proof of your expenses, should you happen to be audited. Otherwise, there is no need to retain them as long as you have. What do I do with such items, since I operate multiple rental units ? They are scanned and saved to PDF files. At the end of each fiscal year, the copies of receipts are simply burned to a CD and carefully put away. You’d be amazed how easy it is to store CD’s instead of all that paper.
October 13th, 2009 at 1:32 am
Well, I certainly would keep it at least 7 years.
I had a bit of pricey dental work done in my early 20’s, and about 6 years later, the dentist started rebilling me for it. I had the cancelled checks, but they turned it over to a collection agency anyway. Once I sent the agency copies of the cancelled checks showing I’d paid it, it went away.
So me, I don’t throw out cancelled checks or receipts - ever.