prepaid insurance
Can I deduct an insurance premium payment made on Dec 29, 2020 for January 2021 in tax year 2021?
Can I deduct an insurance premium payment made on Dec 29, 2020 for January 2021 in tax year 2021?
You could only do that if you weren't obligated to pay the bill in December. In that case, it would be considered prepaid, and then deductible in 2021.
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