Long term care rider

[britehopes]

I purchased a qualified LTC rider to an insurance policy and paid for it in full.  Is the full amount of the rider deductible in one year?  It far exceeds the amount I've seen elsewhere for LTC deductions for individuals.   

[KarenM90]

Yes, LTC premiums are deductible up to the limits, and if you have enough to itemize your medical and other deductions.  

Here is an article that provides more details:  LTC Premiums

[Rdwright59]

When entering my tax data, Why Turbo Tax never asked me about Long Term Care premiums and suggested I take the standard deduction.   Wouldn't the Long Term Care premiums contribute to my total medical expenses to deduct?

[DoninGA]

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@Rdwright59 wrote:

When entering my tax data, Why Turbo Tax never asked me about Long Term Care premiums and suggested I take the standard deduction.   Wouldn't the Long Term Care premiums contribute to my total medical expenses to deduct?

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When you were entering your Medical Expenses in the Deductions & Credits section of the program, one of the pages was specifically for entering Medical Insurance Premiums.  On that page you should have entered the Long Term Care premiums paid in the designated box.