Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 3:06:23 AM

Please define "Gross Long Term Care Premiums".

0 2 3971
2 Replies
Level 10
Jun 6, 2019 3:06:24 AM

Gross long-term care premiums are the total amount that you paid for a qualifed  long-term care insurance policy. TT asks for gross because how much you can deduct is limited (by age) and usually a lot less than the premiums.

A long-term care policy is not a general health insurance policy. It pays for care if you cannot perform a certain number (two I think) of the "activities of daily living (e.g. feeding yourself, bathing, etc.).

This article describes what qualifying policies are and the limits for 2016.

http://www.elderlawanswers.com/irs-issues-long-term-care-premium-deductibility-limits-for-2016-15358

Level 10
Jun 6, 2019 3:06:25 AM