Form 8853 p2

[Ignatian-Rose]

TT is telling me it can't finish my taxes because Form 8853 p2 isn't ready yet (the government hasn't released the final version) but I'm having trouble understanding if I answered the LTC 1099 questions TT is asking correctly.

The LTC company sent a 1099.

Box 1: $750;

Box 3: reimbursed amount;

Box 4: qualified contract.   

The $750 is an annual benefit of this LTC contract. It pays for "informal care", that is care by a relative. Not by a licensed person, which is what TT identifies as "qualified" care.

When I tell TT $750 is the reimbursed amount. That's the only box I can fill in.  I don't use the per diem or days boxes.  Then TT tells me that it's waiting for Form 8853 p2 to be approved.

I'm trying to declare this income correctly. Because it's not "qualified" care, per TT's definition, but it is clearly a benefit paid stated on the LTC 1099, the TT questions and instructions are a bit confusing.

Do I just put the $750 stated as the reimbursed amt on the LTC 1099 in the reimbursed amt box and leave it at that and wait for the Form 8853 p2 update?

Or should I put $0 because the $750 was not for "qualified" care per TT's definition of "qualified" and declare the $750 as something else even though the LTC send me a 1099?

Thanks.

[MaryK4]

You can include the amount as Qualified Care if the Informal Care are personal services and was part of the plan of care approved by the insurance company.

According to the IRS:

"Qualified LTC services are necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, and rehabilitative services, and maintenance or personal care services required to treat a chronically ill individual under a plan of care prescribed by a licensed health care practitioner."  Line 22

[lrb001]

Form 8853 p2 is finalized and on the IRS website for a couple of weeks.  When will TurboTax have the form ready in their program?

[MichelleLO]

You can monitor the status of Form 8853 in the below link. If the form becomes available sooner than the currently published date, the article will be updated to reflect the new availability date.

IRS forms availability table for TurboTax individual (personal) tax products

[lrb001]

I used the hyper link you suggested, and it stated the form will not be ready until 03-31-2022.  This seems extremely late when IRS already has the form and instructions on its website.  That only leaves two weeks before the federal deadline to file income taxes.  I have been using TurboTax for over 20 years and never had this issue.

[BobMaginel]

Same problem!!  Online IRS instructions (decision Chart) says I DO NOT have to fill out Section C.  You are holding up my refund for NO REASON! Check with the IRS and get this fixed!  It appears that both you and the IRS are incompetent in this matter.

[HeatherPLO]

@BobMaginel

In this public forum, we are provided with form availability information, but not an explanation as to why the form is not available until that date.  For additional information, it would be necessary to contact customer support.  To do this, please see this Help Article to get in touch with us. 

[VMCDANIEL]

WHEN WILL THIS FORM BE READY; WE HAVE WAITED OVER A MONTH NOW AND CANNOT FILE TAX RETURN

[DoninGA]

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@VMCDANIEL wrote:

WHEN WILL THIS FORM BE READY; WE HAVE WAITED OVER A MONTH NOW AND CANNOT FILE TAX RETURN

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Form 8853, Archer MSAs and Long-Term Care Insurance Contracts is scheduled to be available in TurboTax on 03/17/2022