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How do I report a 1099LTC
My wife is in long term care and the insurance company paid $45165.72 in 2015. Do I need to report this or how do I handle.
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June 7, 2019
3:01 PM
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is this a tax "qualified" contract or a non tax qualified contract?
June 7, 2019
3:01 PM
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what is the difference between a qualified contract & non qualified contract
June 7, 2019
3:01 PM
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Since we paid many thousands in premiums, and received only hundreds in benefits, we can't imagine any tax effect!
June 7, 2019
3:01 PM
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Go to:
Personal Income > I'll choose what I work on> Less Common Income> Miscellaneous Income (last item at bottom of the page) > 4th item down should be 1099-LTC
or you can search in the find box, upper right hand corner: "1099-LTC" then "jump to" and it'll take you right there.
This is not taxable if used for medical expenses, but you should report it for informational purposes.
June 7, 2019
3:01 PM