How much of Long Term Care Insurance Payments are taxable if your costs were equal to or greater than than the LTC payments?

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How much of Long Term Care Insurance Payments are taxable if your costs were equal to or greater than than the LTC payments?

None. If the costs exceeded your distribution from the LTC insurance, then the distribution is not taxable. When you enter the 1099-LTC there will be some follow-up questions asking about the details of what you paid to the facility to determine if any of the distribution is taxable. See the article below for more information.

https://ttlc.intuit.com/replies/3301401

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