Page 175 - Other Income for Individuals

Credit card insurance

Credit Card Insurance

 In most cases, if you receive
benefits under a credit card
disability or unemployment
insurance plan, the benefits are
taxable to you.
 These plans make the minimum
monthly payment on your
credit card account if you can’t
Credit Card Credit Card Insurance
make the payment due to
injury, illness, disability, or
unemployment.

 Report on Schedule 1 (Form
1040), line 8, the amount of
benefits you received during
the year that’s more than the
amount of the premiums you
paid during the year.

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