life(buy/sell) insurance

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  • syvester
    Junior Member
    • Feb 2014
    • 4

    #1

    life(buy/sell) insurance

    are the premiums for a life (buy/sell) insurance a deductible expense for a partnership?
  • TXEA
    Senior Member
    • Feb 2014
    • 329

    #2
    Life Insurance premiums except for those provided as an employment benefit (e.g. group term life) are nondeductible. So, the premiums for the buy-sell are nondeductible.

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