Hello @MargaretL, I am in the same situation.
I pre-paid 1-year worth of premium as part of the closing cost for my rental property.
Since it does not go beyond 12 months, I assume I can expense the entire amount this year.
From publication 527: "Insurance premiums paid in advance. If you pay an insurance premium for more than 1 year in advance, you can’t deduct the total premium in the year you pay it. For each year of coverage, you can deduct only the part of the premium payment that applies to that year. See chapter 6 of Pub. 535 for information on deductible premium"
From publication 538: Example 2. You are a calendar year taxpayer and pay $10,000 on July 1, 2018, for a business insurance policy that is effective for only one year beginning on July 1, 2018. The 12-month rule applies. Therefore, the full $10,000 is deductible in 2018.
