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Are premiums for long-term care insurance deductible for 2021?

SOLVEDby TurboTax599Updated December 29, 2021

Premiums for qualified long-term care insurance policies are only deductible on your 2021 federal taxes if you itemize, up to these per-person amounts:

  • $450 — under age 41 as of December 31, 2021
  • $850 — age 41–50 as of December 31, 2021
  • $1,690 — age 51–60 as of December 31, 2021
  • $4,520 — age 61–70 as of December 31, 2021
  • $5,640 — age 71 or higher as of December 31, 2021

Some states also have their own long-term care credit or deduction; when you do your state taxes, we'll let you know if your state offers tax breaks for long-term care.

A qualified long-term care insurance policy:

  • is guaranteed renewable
  • has no cash surrender value
  • doesn't cover Medicare-reimbursed expenses
  • doesn't use any refund to reduce future premiums (except in death or cancelation)

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