SParker
Super Genius
- 105
Does anyone know if insurance commissions qualify for IRS' 20% pass through deduction?
Insurance commissions qualify for IRS 20% pass thru deduction ?
- Thread starter SParker
- Start date
- 7,012
I believe so. But I'd ask your accountant.
- 5,050
Not initially as part of the law as it was originally written, but Treasury regs clarified & allowed it. Insurance Agents Assured of Trump Pass-Through Tax Break Under Final Treasury Rule
Scootch
Expert
- 24
It sure does! As long as your income isn't above the thresholds which unfortunately mine isn't. That is assuming you are a 1099 and not an employee. 
- 11,513
Owners and shareholders of insurance agencies and brokerages can take up to a 20 percent tax deduction on qualified business income, no matter their taxable income levels, because the IRS does not consider insurance agents and brokers to be engaged in a "specified service trade or business." Owners and shareholders of "specified service trades and businesses" cannot take advantage of the deduction if their taxable income is over a certain level
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I dont think agents are subject to income max limits
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I dont think agents are subject to income max limits
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