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CCC_LMC
New Member

As self-employed, can you deduct Life Insurance (similar to what a company would provide to an employee) ?

 
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2 Replies

As self-employed, can you deduct Life Insurance (similar to what a company would provide to an employee) ?

Life insurance premiums are not deductible if you are the insured. 

CCC_LMC
New Member

As self-employed, can you deduct Life Insurance (similar to what a company would provide to an employee) ?

Yes, I got the answer, thank you.

That said, I don’t understand the IRS unfairness to self-employed. When I worked for other companies and even when I was an owner in a small corporation, life insurance was provided.  As self-employed, it is just as necessary to replace some income to the family in case of death. It should just be capped at some level consistent with corporate norms, but not excluded.   

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