How do you calculate insurance premiums during tax time?

[Dan Trinh]

So i'm wondering how do I calculate insurance premiums for tax purposes?

Lets say my coverage starts June 15th 2017 to 2018 and its $400, and my next premium is from June 16th 2018 to 2019 for $500.  

If i'm looking to get deduction on my 2018 premiums, would i divide by 365 days for the $400 and $500 and figure it out that way?

Thanks!

[Michael Pearse]

@Dan Trinh Yes you are exactly right on how you are calculating the 2018 premium, and dividing by the amount of days. Another option to get a more precise number is by talking to the insurance company that is used on the property. You can ask for a quote based off of those specific dates. 

Cheers!