My mom just died and I discovered boxes of tax records and receipts dating back years. Can I just throw them all out?

Let’s pretend, for example, that Sally’s mother has passed away recently. Sally’s dad died years ago, so now Sally is clearing out the home her mom lived in and must be responsible for deciding what to do with everything inside.

Sally has found a whole box of tax records and receipts, and she’s wondering if she needs to keep them. Here’s what the experts say, along with some other details that Sally should keep in mind as she figures out if the records need to be retained.

How long to keep tax records after a death

According to Trust and Will, it is a good idea to keep tax records for seven years after a loved one has died.

Trust and Will recommends this, despite the fact that the IRS will typically only audit the tax return of a deceased person for up to three years after a death.

That’s because, as Oberheiden P.C. explains, this time limit can be increased to six years in some cases, including when a revenue stream is grossly underreported. So, Sally should make sure to hold onto any recent receipts and returns for at least this period of time.

Sally (and others who have lost loved ones) also have certain obligations if they are named as the executor of the estate, including, in most cases, to file returns for both the deceased person and for the estate itself. The IRS indicates you’ll need to file Form 1040 for the deceased and Form 1041 for the estate.

Sally may need these old receipts and old tax documents to help file all these forms. The returns can also be useful to track down property or income streams that the deceased person owned if Sally doesn’t have a clear list of assets.

For decades-old records, though, it’s unlikely Sally would need to keep those, especially given that the step-up basis rules typically reset the value of assets to their fair market value on the date of the death for purposes of calculating capital gains taxes. She won’t need very old records to determine the original value.