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Business & farm
You have to allocate the expense proportionally. For example, if 1/5 of your weekly work is reported on the 1099, but the insurance policy applies to all your work, you can deduct 1/5 the premium.
Alternatively, if the clinic premium only covered your clinic work and not your freelance work, and you had to pay for extra coverage for your freelance work, you could deduct the entire cost that applies to the freelance work.
March 25, 2022
10:42 AM