KeeptlyHow long should you keep receipts?
Short answer: for taxes, the IRS generally asks you to keep records for 3 years, and longer in some cases. For everyday purchases, keep the receipt at least as long as the warranty or return window runs.
Tax records: the IRS periods
| Situation | Keep records for |
|---|---|
| Most returns | 3 years |
| You file a claim for a credit or refund | 3 years from filing or 2 years from payment, whichever is later |
| You left out income of more than 25% of the gross income shown | 6 years |
| You claim a loss from worthless securities or a bad debt deduction | 7 years |
| Employment tax records | 4 years |
| You don't file a return, or file a fraudulent one | Indefinitely |
Everyday purchases: as long as the warranty
A receipt is how you prove when you bought something. Keep it at least until the return window closes, and for anything with a warranty, until the warranty ends.
- Electronics and appliances: until the manufacturer or extended warranty ends.
- Clothes and small items: until the store's return window closes.
- Self-employed expenses: follow the tax periods above.
Thermal receipts fade
Most register receipts are printed on heat-sensitive paper that fades within months, long before a two-year warranty is over. Take a photo or scan the receipt the day you get it.
This page is general information, not legal, tax or financial advice. For your situation, ask a professional.