Discussion:Tail insurance policy, md
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Discussion Forum Index --> Basic Tax Questions --> Tail insurance policy, md
Discussion Forum Index --> Tax Questions --> Tail insurance policy, md
| 3 March 2008 | |
| dr. was self employed for several years and had liability insurance. Sch C, Cash basis taxpayer.
Dr. stops doing business in 2006. However, in 2007 Dr. Buys Tail policy (future protection for prior acts). Can Dr. Deduct this and if so where, Sch C? | |
| 3 March 2008 | |
| Yes, sch C. Ordinarily the doc would have straggling receivables collections to offset the expense. But either way sch C. | |
| 3 March 2008 | |
| do, just the insurance. work was stopped in the middle of prior year but that years insurance had already been paid for. | |
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