Tax Tip — Doctor’s Malpractice Insurance
A self-employed doctor may deduct the premium costs of malpractice insurance However, a doctor who is not self-employed but employed by someone else, say a hospital, may deduct the premium costs only as a miscellaneous itemized deduction subject to the 2 percent of adjusted gross income floor Whether malpractice premiums paid to a physician-owned carrier are deductible depends on how the carrier
