<p>good morning all,</p>
<p>I need help on what material I need to save/keep, what is necessary for an audit. Just as I save my tax returns for 7 years. first time on this site, going through the fasfa for the first time, so this is new to me. For those of you that have been through an audit, Can someone tell me what information I will need to save/keep on hand for an audit from fasfa/school. I keep all my tax returns for at the last 7 years, so that is not an issue, and on a rotaining basis get rid of the oldest tax return. What else do I need to hold on to? do I need to hold on to my quarterly statement from the bank, as that is not something I usually keep, only the year end tax interest reported for the taxes themselves, if I do have to keep them? if so for how many years? Is it just for that year, for example tax year 2012 fasfa, do I have to save anything before 2012? Is it necessary to save it and will that be used for an audit or can that be gotten later if necessary? for example fasfa taxes 2012, do I need to worry about anything before 2012? bank statements etc? I am trying to get rid of materials I don’t need, due to space, I usually throw everything away, statments at this time, but don’t want to throw anything away if I do need it as asking for that is fee based. Thanks for any help</p>