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Form 1099-LTC (Long Term Care)

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    #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
    #2
    Sched A, medical-dental.

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      #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

        #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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          #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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