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We pay -term care premiums but have not needed to claim
We pay long-term care premiums but have not needed to claim benefits. Do we need to report this situation when we file our taxes? … read more
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I received a 1099-ltc because I accepted a buyout in lieu of
I received a 1099-ltc because I accepted a buyout in lieu of rate increase with reduced benefits for a Penn Treaty policy. Do I need to report this on my 1040? What portion, if any, is taxable. I have… read more
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I have a client who is in assisted living with Alzheimer.
I have a client who is in assisted living with Alzheimer. For 2018 he received form 1099LTC benefits with the box "reimbursed amount" checked. Does this go in the return as Other Income, subject to in… read more
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We receive lon. We receive term care benefits for my husband
We receive long term care benefits for my husband on a reverse mortgage insurance policy. Are we supposed to pay income tax on this ?… read more
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I have been paying premiums for term care insurance for over
I have been paying premiums for long term care insurance for over twenty years. Now the insurance company says they are increasing the premiums from $200 to $358. I'm 79 years of age. They are offerin… read more
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I have just been approved for -term disability. I have to
Hi, I have just been approved for long-term disability. I have to fill out a form W-4S. I'm not sure what percentage that I should withhold … read more
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I have an Term Care policy for 25 years. They have informed
I have an Long Term Care policy for 25 years. They have informed me that they plan to increase the price of policy 90% over the next two years. I have been given an option to Cash Out my policy. Will … read more
emc011075
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My husband had a stroke, became disabled and is receiving
My husband had a stroke, became disabled and is receiving benefits from a long term disability policy. He was partner in a closely held law firm that paid the premiums, the firm has since closed becau… read more
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My mother receives payments under a term care policy. It is
my mother receives payments under a long term care policy. It is not per diem . I have a 1099-Ltc form from the company. Do I report it on the1040 at all ? If so, where? … read more
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I am collecting on my LT care insurance policy. Are these
I am collecting on my LT care insurance policy. Are these receiopts taxable to me? … read more
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Am retired, have Senior Advantage and Medicare. While
Am retired, have Senior Advantage and Medicare B. While working I purchased a Long-Term Insurance policy. Can I write off the premiums I pay or not? Thank you … read more
kbrodycpa
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Have a form 1099-LTC which shows gross long-term care benefits
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I have had a long term care policy since 2004. I just found
I have had a long term care policy since 2004. I just found out yesterday that a long term care policy is tax deductible and I have never taken it on my Federal or State taxes. I have been paying $240… read more
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I became disabled and was approved for social security disability.
I became disabled and was approved for social security disability. The company I worked for at the time had a long term disability policy through a third party (CNA/Hartford), which I paid a premium t… read more
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Do you have topay federal tax on long term care benefits
Taxpayer is in assisted living and received a monthly per diem payment to offset costs from a long term care insurance policy… read more
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I am receiving long term disability benefits from a ...
I am receiving long term disability benefits from a personal policy I took out years ago. I paid for the premiums each month, with "after tax" money. Now that I am receiving benefits from this policy,… read more
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Recently, my claim for long term care benefits was ...
Recently, my claim for long term care benefits was approved and I am receiving personal care and homemaker services. The insurance company will be sending 5,000 dollars a month. Will I have to pay inc… read more
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Are the proceeds from long term care insurance taxable
dMy mother went into a nursing home in 2004 and started receiving proceeds from her long term care policy. Is this money taxable? Also can she deduct the nursing home daily fees and expenses?… read more
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