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bank safe deposit box fees, reported to irs?

A

abc

Diamond Member
I dont own a box so I dont see what happens at annual renew time... my dad doesnt get an invoice while he does rent one..
does your bank report to the IRS that you rented a box?

If not, then why can they offer you a misc. deduction on fees you did pay to rent it?
 
They want to know where you keep the proceeds from your drug deals. Keep the money under your mattress and let me know where you live so I can keep an eye on your house when you're out. 😀
 
There are many things that are deductible which aren't reported to the IRS. But if they ask for proof, you have to be able to produce it.
 
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