That is correct. If the homeowners was cancelled at the start of the rental and converted to the landlord insurance, you will list the landlord policy premium as the expense in the year that it was paid.
However, if the landlord policy premium was not paid until 2025, then you would not claim the premiums until 2025. If the premiums that were paid for the Homeowners were just transferred over to the Landlord policy, then the amount that was transferred over would be considered paid in 2024 since you made the payment in 2024.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
