IRS, How long should I keep records: property records until the disposal year closes, and other purposes may need longer (IRS, How long should I keep records? (page last reviewed 30 June 2026))
Records of property (equipment, software, shares) run until the limitations period closes for the year it was sold or disposed of. The IRS itself warns that insurers, creditors and other rules may require records to be kept longer than tax law does.
Dated 31 Oct 2026Source checked 31 Oct 2026Basis: primary text
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In the source's own words
“Generally, keep records relating to property until the period of limitations expires for the year in which you dispose of the property. ... When your records are no longer needed for tax purposes, do not discard them until you check to see if you have to keep them longer for other purposes. For example, your insurance company or creditors may require you to keep them longer than the IRS does.”
Where it was read
Also read from the same source
- IRS, How long should I keep records: keep tax records until the period of limitations runs out, generally 3 years (IRS, How long should I keep records? (page last reviewed 30 June 2026))
- IRS, How long should I keep records: 7 years for bad debts, 6 years for large omissions, indefinitely with no return or a fraudulent one (IRS, How long should I keep records? (page last reviewed 30 June 2026))
- IRS, How long should I keep records: employment tax records at least 4 years (IRS, How long should I keep records? (page last reviewed 30 June 2026))
Figures it counts in
It is shown on its own, not counted into a figure.
Cited in this guide