Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
quail95
New Member

Can you deduct the premium for long term care insurance

 
1 Reply
Marketstar
Level 7

Can you deduct the premium for long term care insurance

Yes, you can deduct premiums for long term care insurance if you itemize and the total expenses for you, your spouse, and your dependents exceed 10% of your adjusted gross income (7.5% if you're 65 or older as of December 31, 2016). The deduction is limited to the expenses above and beyond this amount.

See Deducting Medical, Dental, and Vision Expenses

To enter your medical /insurance expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Medical
  • On Medical Expenses, click the start or update button

See How much did you spend on insurance premiums? page.

Dynamic AdsDynamic Ads
Privacy Settings
v