Click
Level 3

Most clients work with the 7-8 years guideline.  A few are aware of keeping asset basis records. None, including us, were aware that 6252 sales figures were to be required after the original year of sale.  In these cases the sales were over 25 years ago, in the early nineties.  That's asking a lot to keep records that long. Other older clients have sales in excess of twenty years ago. That is again in my opinion, asking too much for them to keep records that long.  Aged 70s-90+s, even if they kept them, they might  well be challenged to find them.

0 Cheers