Do you still save receipts, or have you gone digital?

fuzzybuddy

fuzzybuddy

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Location
The Sticks, Northeast PA.
When I moved into my present home, in the '90s I had to get rid of some stuff. I still had phone bills from 1972. How do I know I won't need a phone number for a company that went out of business 30 years old??? Had 1972 electric/ rent/grocery receipts, too. It was hard, but I had to ditch my beloved 1972, 73, 74 , 75 ,+etc. receipts.
Today, it dawned on me that I don't save any receipts. Everything's online.
Do you still save receipts, or have you gone digital?
 

The last time I used a receipt to return an item, the store didn't even use it, I think they asked for my phone number, then their computer system knew about the item and it credited my card. I guess if I'd paid with cash maybe the receipt would have been needed.

I usually keep grocery receipts long enough to review them to see if there are any mistakes, but since I've been doing self checkout that seems pointless now LOL.

The HVAC maintenance receipt was useful to get the phone number from when my A/C needed a repair.

Otherwise I guess I don't keep any receipts, except if a charity sends me an annual summary I'll put that in my tax records.
 
fuzzybuddy said:
When I moved into my present home, in the '90s I had to get rid of some stuff. I still had phone bills from 1972. How do I know I won't need a phone number for a company that went out of business 30 years old??? Had 1972 electric/ rent/grocery receipts, too. It was hard, but I had to ditch my beloved 1972, 73, 74 , 75 ,+etc. receipts.
Today, it dawned on me that I don't save any receipts. Everything's online.
Do you still save receipts, or have you gone digital?
Click to expand...
I scan everything to my computer and toss most receipts. I keep store receipts until the return window closes incase I need to return an item. I keep hard and digital copies of receipts for big ticket items like appliances, furniture, vehicles, etc. But I have a digital copy of everything and run a weekly backup on my computer, I keep a copy of the data in a fireproof safe. I wrote an article on this subject. Digitalizing Your Documents
 
I used to save receipts. Once when I went to return something without a receipt expecting to get a store credit for the purchase amount. Something new happened. The clerk asked if I purchased the item on my credit card. I did. No problem the clerk looked up the purchase & issued a credit right then to my credit card.

I can't remember the last time I needed a receipt. Only documentation I keep is the last 3 years of federal taxes filing.
 
HoneyNut said:
The last time I used a receipt to return an item, the store didn't even use it, I think they asked for my phone number, then their computer system knew about the item and it credited my card. I guess if I'd paid with cash maybe the receipt would have been needed.

I usually keep grocery receipts long enough to review them to see if there are any mistakes, but since I've been doing self checkout that seems pointless now LOL.

The HVAC maintenance receipt was useful to get the phone number from when my A/C needed a repair.

Otherwise I guess I don't keep any receipts, except if a charity sends me an annual summary I'll put that in my tax records.
Click to expand...
I rarely return anything to the store... but a couple of days ago I had to... and they're still doing it in the same old way... taking the paper receipt and putting it back through the till to make the refund.., so I'm pleased I keep the receipts..for a period of time
 
I've always keep receipts for all major purchases with the warranties for large ticket items as long as we have them. Receipts for repairs on house & cars, the same.

Everyday purchases/monthly bills I keep for a year.

We found out that we needed all kinds of receipts that proved what my MIL paid for updates to her house over the years for tax purposes when it was sold. We were so thankful she did it because she wasn't one to keep receipts.
 
caroln said:
I thought we had to save the last 7 years???
Click to expand...

Period of Limitations that apply to income tax returns​

  1. Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
  2. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
  3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
  4. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
  5. Keep records indefinitely if you do not file a return.
  6. Keep records indefinitely if you file a fraudulent return.
  7. Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
Ours falls under point 1.
 
Knight said:

Period of Limitations that apply to income tax returns​

  1. Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
  2. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
  3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
  4. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
  5. Keep records indefinitely if you do not file a return.
  6. Keep records indefinitely if you file a fraudulent return.
  7. Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
Ours falls under point 1.
Click to expand...
Oh, good grief. Nothing is simple anymore. Almost as bad as navigating through Medicare Advantage plans. Think I'll just keep my records for 7 years and be done with it. Thanks for replying though!
 
fuzzybuddy said:
Do you still save receipts, or have you gone digital?
Click to expand...
I save receipts in a bowl for anything of value ($50 or more)
for three months
After that, I staple the receipt to the last page of the manual, and file it

This is mostly for kitchen gizmos my lady buys, and power tools I buy

If there's a box involved, I save that too for a few months

Other stuff.....nada
 
We save the receipts for anything we buy with a credit card. When the bill arrives, we compare it to the receipts to make sure the billing is accurate. If so, we toss the receipts. If we make any major purchase....appliance, etc., we file the receipt and keep it until the warranty expires.
 
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I save receipts only for house improvements that will be used to reduce our capital gains when we finally our home.

I don't need receipts to check credit card bills, it's pretty obvious to us what the charges are and in 60 years we've had very, very few problems. I do note date of purchase on appliance manuals, and sometimes (but not often) include the receipt if purchased locally. However, for those items purchased on-line, I just photo the credit card statement and highlight it, then staple it to the manual.
 

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