Deduction for home safe

Not sure if I am posting this in the right area -

I recently was speaking with an acquaintance who mentioned that the IRS will allow a one-time deduction for a fireproof home safe to safeguard financial/tax records. Sounds reasonable, but I can't find it in writing anywhere.
Anyone familiar with either this specific deduction, or where to find the reference?

Thanks.

Taxdude,

That may sound reasonable, but I am not aware of anys such deduction and we are talking about the IRS rules.

A home security system is not deductable.

As a miscellaneous deduction on Schedule A, you can claim the cost of renting a Safety Deposit Box IF the box is used to store Income Producing paper work (stocks, bonds, investment records, etc.)

You can not deduct that Safe Deposit Box if you use it to store tax exempt securities or personal items.

If you have a home office for your business, you may want to make a safe an asset of the business and depreciate the cost.

For more information see IRS Pub:
- 529 Miscellaneous Deductions
- 587 Business Use of Your Home
- 946 How to Depreciate Property

Any idea about shutter installation ?

TroyM,

Perhaps your insurance company may offer some discount for shutter installation.

Today there is no deduction for this.