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View Diary: Do you have your birth certificate? (250 comments)

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  •  Almost no one can use this deduction (1+ / 0-)
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    ladybug53

    Safe Deposit box rental is deductible (if the box is used for specific purposes) only to the extent that the sum of such "miscellaneous deductions" exceeds 2% of your adjusted gross income.

    It's usually very difficult for most people to have enough of these deductions to exceed the 2% floor.

    And then there are always the paranoid individuals who don't want to reveal to the IRS that they HAVE a safe deposit box (hey, would you want the IRS to know that you have jewelry, bullion, or other "tangible valuables" socked away?).

    We must drive the special interests out of politics.… There can be no effective control of corporations while their political activity remains. To put an end to it will neither be a short not an easy task, but it can be done. -- Teddy Roosevelt

    by NoMoJoe on Thu Mar 28, 2013 at 12:44:37 PM PDT

    [ Parent ]

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