Schedule C Expenses - Insurance (Other Than Health)

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Schedule C Expenses - Insurance (Other Than Health)
Article ID: 33324

Question

Schedule C Expenses - Insurance (Other Than Health)

Answer

Deduct premiums paid for business insurance. Do not deduct amounts paid for employee accident and health insurance as these are employee benefit program expenses. Do not deduct 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.

For details, see Chapter 6 of IRS Publication 535.

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Article Details

Views: 2472	Created on: Jun 15, 2013 Date updated: Aug 07, 2015
Posted in: GENERAL QUESTIONS, Schedule C - Profit or Loss from Business

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