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Rooster5
New Member

Turbo Tax asks for "LTC number of days" and "costs of qualified LTC services". The 1099-LTC form does not show this information. Box 3 and box 4is checked. what to do?

The amount in Box 1 for "gross long term care benefits paid" is shown. When i entered this into turbo tax, the federal tax amount owed jumped up. I thought this was not taxable?
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1 Reply
MarilynG1
Expert Alumni

Turbo Tax asks for "LTC number of days" and "costs of qualified LTC services". The 1099-LTC form does not show this information. Box 3 and box 4is checked. what to do?

If this is reimbursement for expenses, the 'costs of LTC services' would be the same amount as the Reimbursement amount, so nothing is taxable.

 

If your person was in LTC all year, you can use 365 as 'LTC number of days'.

 

If your reimbursement is less than your actual expenses, be sure to report the unreimbursed amount as a Medical Expense for a Schedule A deduction.

 

 

 

@Rooster5 

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