https://ttlc.intuit.com/community/taxes/discussion/1099-misc-entry-to-exclude-ltc-premiums-from-surrender-value/01/3466887#M1281716 <P>Previous guidance on entering proceeds from LTC Policy surrender doesn't work.</P><P>Previous guidance was to make tywo entries, 1 for amount on 1099_MISC, second with negative ammount representing amount paid in policy premiums. TTax doesn't carry the difference forward.</P> Fri, 07 Feb 2025 21:29:31 GMT bpynn 2025-02-07T21:29:31Z https://ttlc.intuit.com/community/taxes/discussion/1099-misc-entry-to-exclude-ltc-premiums-from-surrender-value/01/3466887#M1281716 <P>Previous guidance on entering proceeds from LTC Policy surrender doesn't work.</P><P>Previous guidance was to make tywo entries, 1 for amount on 1099_MISC, second with negative ammount representing amount paid in policy premiums. TTax doesn't carry the difference forward.</P> Fri, 07 Feb 2025 21:29:31 GMT https://ttlc.intuit.com/community/taxes/discussion/1099-misc-entry-to-exclude-ltc-premiums-from-surrender-value/01/3466887#M1281716 bpynn 2025-02-07T21:29:31Z https://ttlc.intuit.com/community/taxes/discussion/re-1099-misc-entry-to-exclude-ltc-premiums-from-surrender-value/01/3468930#M1282670 <P>I finally resolved the problem!</P><P>After creating both entries (1 actual amt on 1099-Misc, 2nd with negative amt representing total premiums)</P><P>you need to open the "1099-MISC Wks" in the FORMS tab and in the Box 3 section click on "Other Income" box for both the actual and the negative entries. (If both you and your spouse got 1099-MISC there would be four entries)</P> Sat, 08 Feb 2025 19:17:58 GMT https://ttlc.intuit.com/community/taxes/discussion/re-1099-misc-entry-to-exclude-ltc-premiums-from-surrender-value/01/3468930#M1282670 bpynn 2025-02-08T19:17:58Z