Is My Home Insurance Tax Deductible?

1. 

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   David Osgood

   Agent, Rural Mutual Insurance Co., Union Grove, WI

   Based on my knowledge and education thus far I would say that it is not, but I am not a tax accountant. Please speek with your tax advisor to be provided with the most current and up to date information regarding whether or not a expense that you have is deductible in your current tax year or not.

   Answered on October 17, 2013

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2. 

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   Tom Sheehan

   Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482

   This is a question better asked of a Tax Professional, of course.  Generally speaking they are not, however, there may be situations where it may be possible for at least a portion of the premium.  This is where you must consult your tax professional.  There are circumstances where a home office is set up, where a portion of home expenses, including insurance MAY be tax deductible.  These regulations change regularly so always use the knowledge of your tax professional with regard to Federal and State tax regulations.

   Answered on October 18, 2013

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