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posted Apr 13, 2023 4:52:46 PM

I am a sole proprietor and I have E & O insurance with a $5k deductible. I am aware that the premiums are deductible. If I had a claim for $1,000, can this be deducted?

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Expert Alumni
Apr 13, 2023 5:05:46 PM

You didn't provide many details, but yes, more than likely that is a deductible business expense.