Trump attended Fordham University in the Bronx for two years, before transferring to the Wharton School of the University of Pennsylvania, because Wharton then had one of the few real estate studies departments in U.S. academia. He graduated in 1968, with a Bachelor of Science degree in economics.
(The higher your basis, the lower your capital gains tax might be.) Keep all of the latest refinancing documents. If you sell your house, hang on to all records for seven years, because that's how long the Internal Revenue Service has to audit you. Find out how to get the best rate on a mortgage. For more news and articles about mortgages and personal finance, subscribe to our feed. Consumer Reports has no relationship with any advertisers or sponsors on this website. Copyright Â© 2007-2013 Consumers Union of U.S. 1  Investing Education. 2  Finance. 3  mortgage.
Period of Limitations that apply to income tax returns. 1  Keep records for 3 years if situations (4), (5), and (6) below do not apply to you. 2  Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return. Keep records indefinitely if you do not file a return. Keep records indefinitely if you file a fraudulent return.