Form 1099-LTC (Long Term Care)

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  • cynamoats
    Junior Member
    • Mar 2006
    • 22
    #1

    Form 1099-LTC (Long Term Care)

    How are Form 1099-Long Term Care distributions reported on a tax returm? The instructions do not give a clue.

    Thank you
    Tags: None
    • Don B
      Member
      • Dec 2005
      • 31
      #2
      Sched A, medical-dental.

        Comment

        • cynamoats
          Junior Member
          • Mar 2006
          • 22
          #3
          As a deduction? I was given $ 58,000 in nursing home costs. I guess I thought the LTC contract was a payment to the nursing home and considered some kind of income to the taxpayer.

          Please respond and set me straight on my thinking. Thanks.

            Comment

            • Don B
              Member
              • Dec 2005
              • 31
              #4
              Long term care insurance premiums are deductable on Sched A, the amount of deduction depending on the age of the owner. These premiums are usually reported on 1099-LTC.

              Maybe you are talking about something else.

              Don B

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                • Unregistered
                  #5
                  Check the instructions and page 2 of the Form 8853. This is where you report and figure if any of the payment is taxable.

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