prepaid insurance

b-right2022 · ‎April 7, 2022

Can I deduct an insurance premium payment made on Dec 29, 2020 for January 2021 in tax year 2021?

ThomasM125 · ‎April 7, 2022

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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View solution in original post

ThomasM125 · ‎April 7, 2022

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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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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prepaid insurance