My TBR is almost all the books I've bought but not read, along with any freebies that I have explicitly downloaded and added to my TBR.
There are some books that I've bought that I'm never going to read - these are explicitly excluded from my TBR.
Some books currently on my TBR might get discarded unread. And some I might find that I have read before 2010 (when I started actually recording which books I've read).
But however I look at it, my TBR is too big!