What about home and car insurance premiums? Also Flood insurance Premiums?

[jerry2000 · Accepted solution]

Insurance for your home and car is not deductible.

[ThomasM]

In a personal capacity, homeowners & hazard & flood insurance -- as well as car insurance -- are not deductible (only mortgage insurance is deductible at the personal level).  However, in a business/rental capacity, they are deductible, including for a home office.

If you have rental property, you'll enter these items (except car insurance) under "insurance" in the Rental Expenses section. If you're self employed and utilize a home office, then you'll enter insurance amounts under the "Home Office" section of your business expenses.  And if you're a W-2 employee, you'll enter the insurance items in the home office section of Job-Related Expenses (under the Employment Expenses heading).

Vehicle insurance for business-related use would be entered under "vehicle expenses" in the above categories, though you'll only get the deduction if you're claiming the "actual" expense method rather than standard mileage.