The limit on long term care insurance premiums is a per person limit.
Please view the 2018 limits for claiming long-term care
premiums that can be included as a medical
expense on Form 1040, Schedule A, Itemized Deductions or in calculating
the self-employed health insurance deduction:
- $420 - age 40 or under
- $780 - age 41 to 50
- $1,560 - age 51 to 60
- $4,160 - age 61 to 70
- $5,200 - age 71 and over
Note: you will only be able to deduct the amount of total (combined) medical expenses that exceed 7.5% of adjusted gross income.
