turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the W-4! >> Event happening TOMORROW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Cindyjay4
New Member

1099 LTC so confusing!

I received a 1099LTC form. Box 3 per form box is checked. I am in full time care for almost full ADLs, 365 days a year. It is a qualified plan. 

The amount I receive exceeds the amount for my facility, however I used it for my other care too. It also exceeds the IRS per diem (theirs is 420/day and I get about 500/day). 

 

I have no idea  what to enter under Qualified LTC Benefits. It seems I'm being charged a ton of taxes here. I also am not sure if I should be claiming what I paid for the facility as a deduction. 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
RobertB4444
Expert Alumni

1099 LTC so confusing!

Yes, you should be claiming all of your health care as a deduction against these benefits.  The facility, medication, doctors visits, the works.  Those are the "Costs of Qualified LTC Services" that it is asking about.  If you have enough to use up the whole amount then none of it is taxable.

 

Here is where to enter your 1099-LTC.

 

@Cindyjay4 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies