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Will I be able to deduct my NTA Life Ins Premium because it has a cancer policy included within it, and if so what catagory would I deduct it under?

 
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2 Replies

Will I be able to deduct my NTA Life Ins Premium because it has a cancer policy included within it, and if so what catagory would I deduct it under?

No you cannot just like you cannot deduct the medical portion of an auto insurance policy. 

Carl
Level 15

Will I be able to deduct my NTA Life Ins Premium because it has a cancer policy included within it, and if so what catagory would I deduct it under?

Life insurance premiums are not deductible. If they were, then the life insurance payout would be taxable income. That's the last thing you want.

 

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