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J
JHA1
Level 2
June 6, 2019
Question

Tax Year Prior to 2020: Can a self employed person use life insurance premiums as deductions for 2017 returns?

  • June 6, 2019
  • 1 reply
  • 0 views
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    1 reply

    DoninGA
    Level 15
    DoninGALevel 15
    Level 15
    June 6, 2019

    No.  In most cases, the premiums you pay for life insurance policies intended to provide for your family in the event of your death are not tax-deductible, regardless of the account you pay them from, the size of the policy or the amount of the premiums.

    See this website - https://finance.zacks.com/can-deduct-life-insurance-am-selfemployed-6185.html

    J
    JHA1Author
    Level 2
    June 6, 2019
    Thank you.
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