What is Form 1099-LTC, Long-Term Care and Accelerated Death Benefits?
What is Form 1099-LTC?
You'll receive a Form 1099-LTC (Long Term Care and Accelerated Death Benefits) if you received taxable distributions from your:
- Long-term insurance, or
- Life insurance under an accelerated death benefits clause because you're critically or terminally ill.
Long-Term Care Contracts are arrangements designed to provide insurance that will meet your health care needs, should you become chronically ill or disabled after reaching a certain age.
When you have more than one Form 1099-LTC, you will need to combine the total distribution amounts and enter the total into TurboTax, rather than entering the amount from each form individually.