Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
billsredriver
Level 1

How do I enter 1099-LTC info for contracts issued before Aug 1, 1996?

 
3 Replies
ReginaM
Expert Alumni

How do I enter 1099-LTC info for contracts issued before Aug 1, 1996?

To enter Form 1099-LTC information in TurboTax online program:

  1. From the top, select tab Federal Taxes / Wages and Income,
  2. Scroll down to Less Common Income section,
  3. Choose Miscellaneous Income, 1099-A, 1099-C,
  4.  Scroll down to Long-term care account distributions (Form 1099-LTC).
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
ratings image
rrcthru
New Member

How do I enter 1099-LTC info for contracts issued before Aug 1, 1996?

According to Turbotax, I do not have to report income reported to the IRS on a 1099 TLC because my LTC contract was issued before 1996. How does the IRS know when the contract was issued? They only know I received the 1099

MarilynG1
Employee Tax Expert

How do I enter 1099-LTC info for contracts issued before Aug 1, 1996?

In most instances the 1099-LTC is non-taxable (no matter the date of the contract),as long as reimbursements don't exceed expenses.

 

Click this link for steps on How to Enter 1099-LTC.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v