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Farm Income Expense - Insurance

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Question
Farm Income Expense - Insurance

Answer
Deduct premiums paid for farm and business insurance. Deduct amounts paid for employee accident and health insurance under Farm Expenses - Employee Benefit Programs. Amounts credited to a reserve for self-insurance or premiums paid for a policy that pays for your lost earnings due to sickness or disability are not deductible. 
For more information see IRS Pub. 535.

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Views: 605 Created on: Jun 15, 2013
Date updated: Nov 10, 2014

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