Can Section 105 Plan Costs Be Deducted on Schedule F?

Date
2007-07-20
Authors
Harl, Neil
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Abstract

In a decision handed down on June 7, 2007, the Tax Court held that a married couple operating a farming business was not entitled to a deduction for the costs of “employee benefit programs” on Schedule F.1 The plan in question, which was sold to the taxpayers by a commercial firm, involved a medical reimbursement plan authorized by I.R.C. § 105(b) of the Internal Revenue Code.

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