Thanks for the info.
I have had this LTC policy since 2003 and have never deducted any of the monthly premiums on my taxes. The company is not in the LTC business anymore and seems they are trying to buy out the plans since the buyout would be considerably less then what they would pay if I were to actually use it for LTC. As I mentioned they said I would not receive a 1099 and it was a "Tax Qualified" account. Based on what you have written it seems that I would not have to pay taxes on the money received from the buyout?
Thanks in advance. Joe
