answersLogoWhite

0


Best Answer

Insurance for one's personal property such as auto or homeowner's insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What kind of insurance is tax deductible?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is pet insurance tax deductible in Arizona?

Not deductible on your federal income tax return.


Is life insurance tax deductible?

No.


Universal life insurance premiums tax deductible?

NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.


Is private mortgage insurance tax deductible?

NO


Is business travel insurance tax deductible?

If you are self-employed you likely will be able to claim your travel insurance as a deduction. If you are not self-employed a portion of the travel insurance may be tax deductible.


Is there a deductible on comprehensive auto insurance?

Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.


Can insurance co-pay be tax deductible?

If you are referring to a MEDICAL/HOSPITALIZATION insurance co-pay, yes, that is deductible as a medical expense. And on property/casualty insurance, it may be deductible as a casualty loss.


Are life insurance premiums paid tax deductible by a business?

no,


Is the cost of medical insurance deductible?

Yes. Health insurance premiums are tax deductible to an individual under IRC Section 213(d).


Is long term care insurance deductible?

If you are referring to tax deductibility, yes, long-term care insurance is tax deductible. Age determines tax deductibiliby. Please refer to the related links below to check the limits of tax deduction for long-term care insurance:


What is a deductible in auto insurance?

A deductible in any kind of insurance is, basically, the minimum amount before the insurance "kicks in." On any repairs covered by your insurance, you will have to pay the deductible amount before the insurance will pay anything.


Are long term care insurance premiums tax deductible?

Yes, it is. Long term care insurance premiums are tax deductible. Premium payments are considered to be medical expenses and they are deductible as long as the medical expenses exceed 7.5% of the individual's income.