Sec. 13519. Capitalization of certain policy acquisition expenses
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Section 848(a)(2) is amended by striking 120-month and inserting “180-month”. Section 848(c)(1) is amended by striking 1.75 percent and inserting “2.1 percent”. Section 848(c)(2) is amended by striking 2.05 percent and inserting “2.46 percent”. Section 848(c)(3) is amended by striking 7.7 percent and inserting “9.24 percent”. Section 848(b)(1) is amended by striking “120-month” and inserting 180-month . The amendments made by this section shall apply to net premiums for taxable years beginning after December 31, 2017.
Specified policy acquisition expenses first required to be capitalized in a taxable year beginning before January 1, 2018, will continue to be allowed as a deduction ratably over the 120-month period beginning with the first month in the second half of such taxable year.