Possibly, but only if you itemize deductions (Schedule A) and use the box to store taxable income-producing stocks, bonds, or investment-related papers and documents. Enter your safe deposit box fee as an investment expense. Investment expenses are part of the miscellaneous expenses that aren't fully deductible as they are subject to the 2% rule.
To enter your safe deposit box fees:
Note: If using the TurboTax CD/Download software, you'll use the Find function and "Jump to" link (instead of "Tax Tools") to search for the topic.
Possibly, but only if you itemize deductions (Schedule A) and use the box to store taxable income-producing stocks, bonds, or investment-related papers and documents. Enter your safe deposit box fee as an investment expense. Investment expenses are part of the miscellaneous expenses that aren't fully deductible as they are subject to the 2% rule.
To enter your safe deposit box fees:
Note: If using the TurboTax CD/Download software, you'll use the Find function and "Jump to" link (instead of "Tax Tools") to search for the topic.
@Krg1220 You are on a very old thread from years ago. The tax laws have changed. If you are looking for a way to get a deduction for a safe deposit box, you cannot do that any more. Is that what you were saying "thank you" for? Do you have some other question or issue?