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Level 1

Question

How do I report a 1099LTC

Forum|Forum|7 years ago
June 7, 2019
5 replies
29 views

My wife is in long term care and the insurance company paid $45165.72 in 2015. Do I need to report this or how do I handle.

TurboTax Premier Online

Level 2

is this a tax "qualified" contract or a non tax qualified contract?

Level 2

it is a tax qualified contract

Level 2

what is the difference between a qualified contract & non qualified contract

Level 2

Since we paid many thousands in premiums, and received only hundreds in benefits, we can't imagine any tax effect!

Heather_Billings

Level 2

Go to:

Personal Income > I'll choose what I work on> Less Common Income> Miscellaneous Income (last item at bottom of the page) > 4th item down should be 1099-LTC

or you can search in the find box, upper right hand corner: "1099-LTC" then "jump to" and it'll take you right there.

This is not taxable if used for medical expenses, but you should report it for informational purposes.