Can You Claim Renters Insurance On Your Taxes?

1. 

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   Ted Ratliff

   Owner, SFS Associates,

   Unless you are operating a home based business, homeowners and renters insurance is not a deductible expense. If you are operating a home based business you may be able to deduct a portion of the insurance as a business expense under Schedule C. Check with your tax adviser to see if you qualify and what portion you may claim.

   Answered on March 16, 2015

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2. 

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   Scott W Johnson

   Manager, Marindependent Insurance Services LLC, California

   This is more of a tax question than an Insurance question, however, generally speaking personal insurance is usually not deductible on your income taxes unless it is related to a business and is a business expense.

   Answered on November 7, 2016

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