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mom2j-l
New Member

I had in-home care in California with CNAs from a licensed company. My Long Term Care insurance paid the company directly, but I had to pay anything over limits.

The 1099-LTC checked the reimbursed box for everything for the whole year.  How do I account for what was paid directly and what was paid out-of-pocket?
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Accepted Solutions
PatriciaR
New Member

I had in-home care in California with CNAs from a licensed company. My Long Term Care insurance paid the company directly, but I had to pay anything over limits.

TurboTax will guide you through entering your 1099-LTC and actual costs/expenses. If costs/expenses are equal or greater than the reimbursed amount, none is taxable. The 1099-LTC form is entered in the Wages & Income section. Follow these steps:

  • Select Federal Taxes (top of program)
  • Select the Wages & Income (sub-tab under Federal Taxes)
  • If shown, select "Skip to all income" in order to see all income options
  • Scroll down to Less Common Income
  • Select Miscellaneous Income, 1099-A, 1099-C
  • Select Long-term account distributions (Form 1099-LTC)  (click on first screenshot below for more detail)

As you work through the TurboTax interview, you will come to page that will ask about your costs as well as your reimbursements (click on second screenshot below for more detail)

NOTE:   If the policy was issued before August 1996, different rules apply.


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1 Reply
PatriciaR
New Member

I had in-home care in California with CNAs from a licensed company. My Long Term Care insurance paid the company directly, but I had to pay anything over limits.

TurboTax will guide you through entering your 1099-LTC and actual costs/expenses. If costs/expenses are equal or greater than the reimbursed amount, none is taxable. The 1099-LTC form is entered in the Wages & Income section. Follow these steps:

  • Select Federal Taxes (top of program)
  • Select the Wages & Income (sub-tab under Federal Taxes)
  • If shown, select "Skip to all income" in order to see all income options
  • Scroll down to Less Common Income
  • Select Miscellaneous Income, 1099-A, 1099-C
  • Select Long-term account distributions (Form 1099-LTC)  (click on first screenshot below for more detail)

As you work through the TurboTax interview, you will come to page that will ask about your costs as well as your reimbursements (click on second screenshot below for more detail)

NOTE:   If the policy was issued before August 1996, different rules apply.


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