topic If the allowed amount for LTC premiums in 2021 is, in my case, $5640 pp why am I being asked to adjust the spousal premium which is $3672? in Deductions & credits

If the allowed amount for LTC premiums in 2021 is, in my case, $5640 pp why am I being asked to adjust the spousal premium which is $3672?

VT45 — Mon, 09 Mar 2026 08:43:50 GMT

Re: If the allowed amount for LTC premiums in 2021 is, in my case, $5640 pp why am I being asked ...

DawnC — Wed, 09 Mar 2022 04:43:34 GMT

It depends on your spouse's age. For 2021, the maximum amount of qualified long-term care premiums includible as medical expenses has increased. Qualified long-term care premiums, up to the amounts shown below, can be included as medical expenses on Form 1040, Schedule A, Itemized Deductions or in calculating the self-employed health insurance deduction:

Age 40 or under: $450
Age 41 to 50: $850
Age 51 to 60: $1,690
Age 61 to 70: $4,520
Age 71 and over: $5,640

The limit on premiums is for each person.

The medical expense deduction threshold is 7.5% of adjusted gross income (AGI).

Qualified Long-Term Care Insurance Contracts

Re: If the allowed amount for LTC premiums in 2021 is, in my case, $5640 pp why am I being asked ...

VT45 — Fri, 11 Mar 2022 14:03:36 GMT

That is not the answer. In my case, we are both over 71 and there are 2 Schedule C’s, one for me and one for my wife. The LTC premium for each person must be shown separately on their respective Schedule C. You can not combine the LTC premiums on 1 Schedule C.

Re: If the allowed amount for LTC premiums in 2021 is, in my case, $5640 pp why am I being asked ...

SweetieJean — Fri, 11 Mar 2022 14:49:33 GMT

You both must have been age 71 on 12/31/2021.