Where do I put my safe deposit box fee?

[gh1014]

I've followed the directions but there isn't any misc. area for it

[VolvoGirl · Accepted solution]

But It probably isn't worth entering.  You can only deduct the amount that's over 2% of your AGI.

For example, you make $20,000 AGI.  Only the amount over $400 (20,000 x .02) would even be deductible.  And that's only for 20,000 AGI.  For like 50,000 AGI only the amount over $1,000 would be deductible.

[LinaJ2018]

You cannot deduct it anymore, unfortunately.  With the new law TCJA, taxpayers are no longer allowed to take miscellaneous items deductions such as unreimbursed employee expenses, tax-preparation fees, investment fees and the cost of safe deposit boxes.

[Edited 3/30/2020 | 6:59PM]

[mpb1]

Federal Taxes

Deductions & Credits

Retirements & Investments

Other Investment Expenses

Safe Deposit Box Fees