Jump to content

Life insurance premium on 5500-SF


bcmom

Recommended Posts

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

Link to comment
Share on other sites

I think it depends on what type of insurance (and I don't think the instructions provide guidance, at least not clear guidance).

If term, and yes, I have seen plans with term insurance, then it is definitely an expense item...I'd use line 8g (SF) "Other."

If whole life or UL or some variant that develops a cash value, then I treat it as any other asset of the plan, so premiums are really transfers and don't get reported anywhere.  The gains or losses are part of the "other income" on 8b (again, the SF form).

Ed Snyder

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...