• My employer eliminated my life insurance. Can I deduct the loss? [telec

    From Bill Horne@21:1/5 to All on Mon Dec 27 16:28:31 2021
    By Karin Price Mueller

    Q. Many AT&T retirees including myself have been stripped of retirement benefits, some dating back to Ma Bell days. Among the lost benefits starting this year are the company-sponsored life insurance policy in my name. Am I able to take a tax deduction
    for the lost death benefit which had been an important part of my retirement planning?

    - Annoyed

    Since tax law changed a few years back, you're correct: There are
    fewer items to deduct.

    That includes property tax deductions, which were eliminated when SALT
    -- the State and Local Tax deduction -- was repealed.

    Unfortunately, the loss of this life insurance policy won't help you
    on your taxes, either.

    https://www.nj.com/news/2021/12/my-employer-eliminated-my-life-insurance-can-i-deduct-the-loss.html

    --
    (Please remove qrm from my email address to write to me directly)

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