Question
Connie,
My mother-in-law owns the truck my husband drives, her husband passed away last December. He had health insurance through his former employer (drove truck for 20+ years - union). She still has this insurance. My question is can she pay for her health insurance out of the truck account? I am uncertain because the insurance is not actually through the truck. We heard since she is self-employed that she can and also that it's a tax deduction for the truck. Is this true? Any ideas, or advice will be greatly appreciated. Thank you!!
Answer
Truckbrat,
Your question is a very interesting one. I do know that the truck account can pay for health insurance UNDER certain circumstances. However, I'm not sure about this one.
I suggest you post your questions on the Tax Forum for Russ. With his expertise, I'm sure you get the answers you're looking for.