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

 
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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).
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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
Expert Alumni

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.

 

 

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