Do I have to save each stock purchase receipt in a Permanent file?
Only if the receipt will be your only record for calculating the gain upon selling the stock. It is perfectly acceptable instead to rely on spreadsheets or accounting software. All reputable brokerage firms will keep the purchase price of your stock on file as long as you own the stock, and will provide an annual gain/loss report upon request. If you switch to a different brokerage firm, transfer all original stock purchase prices to the new account.
*NOTE: While FreedomFiler® provides a method of automatic purging which eliminates the need
to review files, you must ultimately decide which documents are kept two years, ten years, or indefinitely.
FreedomFiler® is not liable under any circumstances for claims of loss or damage arising from suggested
document retention guidelines. Consult a professional advisor to determine your specific document
retention needs and adapt your system accordingly.