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Martymouth18
New Member

Do longterm care insurance policies count as a medical expense?

 
1 Best answer

Accepted Solutions
Marketstar
Level 7

Do longterm care insurance policies count as a medical expense?

Yes, you can deduct long term care insurance as a medical expense 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 deduct all medical expenses::

  • Type in medical expenses, sch a the search box, top right of your screen, then click the magnifying glass

  • Click the jump to medical expenses, sch a link in the search results

  • Follow to prompts and online instructions

View solution in original post

2 Replies
Marketstar
Level 7

Do longterm care insurance policies count as a medical expense?

Yes, you can deduct long term care insurance as a medical expense 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 deduct all medical expenses::

  • Type in medical expenses, sch a the search box, top right of your screen, then click the magnifying glass

  • Click the jump to medical expenses, sch a link in the search results

  • Follow to prompts and online instructions

truckerjon1
New Member

Do longterm care insurance policies count as a medical expense?

Long term care insurance premiums are deductible under other insurance category. This in the medical
expense category. Just follow the prompts.

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