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The VA return Turbo Tax software asks if we paid LTC insurance premiums prior to 1 JAN 2014. We paid 2 x 20 months of premiums (for both of us) in 2011 through 2013 and see that our prior VA returns for those years did not have income deduction for LTC insurance premiums paid. Called Virginia State Tax advisors (Richmond) who couldn't tell me one way or another if this is the case. I wanted to confirm this is the rules before I go forward. I have contacted insurance co to obtain official record of the premiums paid during that time. If this is a true VA state return deduction, great! Appreciate the assistance!
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If you took the Medical Deduction for Federal LTC premiums during those years, you cannot take the deduction on the Virginia return this year.
However, if you did not take these deductions, enter the amount where TurboTax is asking for them. This may also be helpful in the calculations necessary if you have started receiving distributions from these plans.
The following article from the Virginia Tax Commissioner describes some of these issues which may be helpful:
https://www.tax.virginia.gov/laws-rules-decisions/rulings-tax-commissioner/07-211
If you took the Medical Deduction for Federal LTC premiums during those years, you cannot take the deduction on the Virginia return this year.
However, if you did not take these deductions, enter the amount where TurboTax is asking for them. This may also be helpful in the calculations necessary if you have started receiving distributions from these plans.
The following article from the Virginia Tax Commissioner describes some of these issues which may be helpful:
https://www.tax.virginia.gov/laws-rules-decisions/rulings-tax-commissioner/07-211
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