topic Please define "Gross Long Term Care Premiums". in Deductions & credits

Please define "Gross Long Term Care Premiums".

superdec — Thu, 06 Jun 2019 10:06:23 GMT

Gross long-term care premiums are the total amount that y...

jtax — Thu, 06 Jun 2019 10:06:24 GMT

Gross long-term care premiums are the total amount that you paid for a qualifed long-term care insurance policy. TT asks for gross because how much you can deduct is limited (by age) and usually a lot less than the premiums.

A long-term care policy is not a general health insurance policy. It pays for care if you cannot perform a certain number (two I think) of the "activities of daily living (e.g. feeding yourself, bathing, etc.).

This article describes what qualifying policies are and the limits for 2016.

http://www.elderlawanswers.com/irs-issues-long-term-care-premium-deductibility-limits-for-2016-15358

Since people are still finding this answer, the 2017 and...

jtax — Thu, 06 Jun 2019 10:06:25 GMT

Since people are still finding this answer, the 2017 and 2018 amounts are in this article
<a rel="nofollow" target="_blank" href="https://www.newmanlongtermcare.com/2016/11/irs-issues-long-term-care-premium-deductibility-limits-for-2018/">https://www.newmanlongtermcare.com/2016/11/irs-issues-long-term-care-premium-deductibility-limits-for-2018/</a>