How should I store the Craftsman M220 when not in use for extended periods?

For storage of 30 days or more, completely clean the mower and remove or store the mower line in a sealed container. For the engine, either drain all gasoline from the fuel tank or add a fuel stabilizer to prevent gum deposits. Drain and replace the engine oil, remove the spark plug and pour one ounce of oil into the cylinder, then slowly pull the recoil starter to distribute the oil. Clean all debris from the cylinder cooling fins and engine housing, then store in a well-ventilated area inaccessible to children.

From the official Craftsman M220 Lawn Mower manual, page 15

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