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In northern climates, do not store your water-based latex caulk in an unheated garage in the winter. Although latex caulk has a reasonably long shelf like, freezing will ruin it. This is also true of most water-based products - latex paint, spackling compound, carpenter's glue, etc.
If your garage just hits freezing temperatures only one or two nights, caulk will probably still be okay; however, paint and glue may be ruined. Latex caulk is very thick and it takes temperatures well below 32 degrees to damage it. Just to be safe, keep it indoors. The last thing that you want is to do a caulking job around your house next summer only to find that the caulk was defective.