End of Year. What papers do you save?

[Mickey527]

I know tax forms etc have to be saved for 7 years and I have those down the basement. But I have been saving papers that I am sure I don't need. I just am afraid that the day I toss them someone will audit me.
I have saved all my checking account statements, all the bill statements and anything else that I might think will come in handy someday. I toss my checkbook register and the carbons of the checks after cutting them up.
What HAS to be saved and what do you save?

 

[marlynnp]

I am too lazy to deal with it all. I save everything. (but not all forever, lol)

Tax returns and related docs are saved separately.
As are any other important papers.

The yearly accumulation of paper work - bills, pay stubs, bank stmts, etc.
are all tossed in a box, taped shut and labeled with the year. Those go up to the attic each year and I bring down the oldest and destroy the contents. I think I actually have 5 years. I never needed any of it except for the year we got back that tax we were charge on phone bills - I was able to pull my bills and get back the actual total rather than the 'estimate' amount.

 

[FlightlessDuck]

I don't itemize deductions, so I save:

W2's
Student Loan interest documentation
Mortgage interest documentation
Child care payment information

That's it.

 

[SaraJayne]

We save papers needed for taxes.

That's it. No banking statements, no bills, etc.

It's clutter you don't need.

 

[MarkBarbieri]

I went electronic about 10 years ago. Everything is saved as a PDF file. I keep virtually nothing physical (exceptions are SS cards, passports, birth certificates, etc). Now I'll probably keep everything forever because I don't see any reason not to.

At first, going electronic meant doing a lot of scanning. Now, just about everything is sent electronically and I scan very little.