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Deductions & credits
If you received a 1099-LTC that means you received benefits for Long term care. Generally, your LTC reimbursement is only taxable if they exceed your medical expenses. Be sure to answer the TurboTax follow-up questions in the 1099-LTC interview to ensure it is being reported correctly.
You report the amount on your 1099-LTC as income; however, in the same section in TurboTax, you report the amount of expenses associated with this income, so that the benefits are not taxable.
‎February 24, 2023
5:36 PM