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Business & farm
It depends on what type of insurance it is. If it is a professional liability policy that covers both your W-2 work and your 1099-NEC work, yes, you can deduct the portion you pay as a business deduction.
If it is a health insurance policy, you can deduct the part you pay as a personal medical deduction, but not as a business deduction.
If it a different kind of insurance, please respond back with details about the type of policy that you have.
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March 25, 2022
9:03 AM