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Daycare and Taxes>Renter's Insurance Tax Question
Boymom 07:59 AM 03-02-2016
I know I can write off a portion of my renter's insurance, but I'm looking at my policy and can't figure out what I can write off. I have farm mutual dwelling which covers the house and then I have personal liability in case someone got injured on my property. Can I write off both or just the mutual dwelling for the house?
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Michael 12:03 PM 03-02-2016
Check these previous threads for deductions for insurance: http://www.daycare.com/forum/tags.ph...on+-+insurance
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TomCopeland 08:42 AM 03-03-2016
Originally Posted by Boymom:
I know I can write off a portion of my renter's insurance, but I'm looking at my policy and can't figure out what I can write off. I have farm mutual dwelling which covers the house and then I have personal liability in case someone got injured on my property. Can I write off both or just the mutual dwelling for the house?
You can deduct the time-space % of your renter's/homeowners insurance. You can't deduct personal liability insurance. However, if the policy is one bill that covers both the house and personal liability, deduct the time-space% of the entire bill.
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Boymom 01:09 PM 03-08-2016
Thank you!
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Tags:deduction - insurance, insurance, renters insurance
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