With regard to federal income taxes, the premiums that are paid into a personal life insurance policy are __________.

Question

Quizplus · Accepted Answer

With regard to federal income taxes, the premiums that are paid into a personal life insurance policy are not deductible. This is because they are considered to be a personal expense. Personal expenses are not typically deductible on one's federal income tax return.

With Regard to Federal Income Taxes, the Premiums That Are