How long to keep records?

1

Hi, we’ve had several properties over the years, some rentals, parents, etc and wondering if anyone knows or has experience with how long to save the records? Should I just save part of the records like just the closing statements?

Also, tax returns? If we had a small business is that a longer waiting period?

Thanks!

2

We own a lot of investment real estate. I started just scanning everything about 8 years ago and just keep it on my network drive organized by property. The HUD-1 or CD statement from the closing attorney or title company can be requested in electronic form For tax returns, your should be able to easily get those in PDF form and keep those forever.

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Thanks butler!