Renter's Insurance Tax Question

[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?

[Michael]

Check these previous threads for deductions for insurance: https://www.daycare.com/forum/tags.p...on+-+insurance

[TomCopeland]

insurance

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.

[Boymom]

Thank you!