Are Funds received from a Long-Term Care Policy entered as reimbursements for medical expenses?

top_hatter · ‎June 3, 2019

ScruffyCurmudgeon · ‎June 3, 2019

Long-Term residential care ("LTC") for an elder patient, typically, is fully-deductible for medical expense on Schedule A, so if you received a reimbursement for this expense, if you reported the expense, you must report the reimbursement as a reduction of the medical expense.

The entry for the reimbursement is essentially an entry of a negative number in the amount of the reimbursement in the LTC category.

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Are Funds received from a Long-Term Care Policy entered as reimbursements for medical expenses?