If you itemize deductions, you may claim your long-term care premiums as a medical expense. The deduction is limited to the amount of medical expenses that exceeds 10% of your adjusted gross income (AGI) (7.5% if you were age 65 or older in 2016).
There is a screen in the medical expenses section of TurboTax just for insurance premiums.
- Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click My Account (top right of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the search bar, type medical expenses.
- In the results box, highlight medical expenses, sch a, then click GO.
- Follow the onscreen instructions. Medical expenses are divided into numerous categories, so you will go through several screens before you get to the the insurance premiums screen. (The categories are: prescription medications, medical professionals, medical facility fees, x-ray and lab work fees, long term care services, eye care expenses, medical supplies and equipment, medical travel, insurance premiums, and other medical expenses.)
Note: If using the TurboTax CD/Download software, you'll use the Find function (instead of "My Account") to search for the topic.
