I received an offer to surrender my Long Term Care Certificate of coverage with a payoff. My payments were tax deductible. How can I figure out my tax liability?

Is the whole amount that I received added to my income? Do I get to minus the amount I paid in? I always did a long form and claimed the deduction on my taxes?

posted

The whole amount you received would be taxable if you deducted the premium payments. Otherwise, you would be deducting the premium payments twice.

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Paid to have access to the teacher deduction. I received it. Yet my tax liability remained the same, before the credit and after. Shouldn't the deduction have lowered it?

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I received an offer to surrender my Long Term Care Certificate of coverage with a payoff. My payments were tax deductible. How can I figure out my tax liability?

I received an offer to surrender my Long Term Care Certificate of coverage with a payoff. My payments were tax deductible. How can I figure out my tax liability?

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I received an offer to surrender my Long Term Care Certificate of coverage with a payoff. My payments were tax deductible. How can I figure out my tax liability?

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I received an offer to surrender my Long Term Care Certificate of coverage with a payoff. My payments were tax deductible. How can I figure out my tax liability?

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