Rhoder19
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First question answer: Reduce the amount of long term care expenses actually paid by the $25K reimbursement, i.e. if spent $100K only report $75K as medical exp...
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In my humble opinion the reimbursement reported on the LTC-1099 does reduce the amount of medical expenses deductible on schedule A. It is not reported as incom...
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Thank you. This seems to answer the question. I would have never found this code section on my own. I'm going to assume IRS guidance should say: "Long term care...
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So the $100 IS taxable since it reduces an otherwise tax deductible expense.
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Timoshenko,Thank you. Wouldn't it be nice if IRS (or anybody) would DIRECTLY address this SPECIFIC set of circumstances rather than leaving it up to us to inter...
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