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 2.09 percent . Section 848(c)(2) is amended by striking 2.05 percent and inserting 2.45 percent . Section 848(c)(3) is amended by striking 7.7 percent and inserting 9.2 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.