Does LTC Insurance Count ?

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  • RWG1950
    Senior Member
    • Nov 2017
    • 462

    #1

    Does LTC Insurance Count ?

    Do Long Term Care Insurance premiums count as SE medical insurance (along with med-sup, part B & D premiums) for a schedule "C" filer?
  • kathyc2
    Senior Member
    • Feb 2015
    • 1947

    #2
    Yes, up to the allowed premium per age range. https://apps.irs.gov/app/vita/content/00/00_25_005.jsp

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    • Rapid Robert
      Senior Member
      • Oct 2015
      • 1988

      #3
      My software (UltraTax) has input fields right on the first Schedule C input screen for both health insurance premiums and LTC premiums, and further for the LTC premiums it has input codes for each of the age ranges, for both taxpayer and spouse. Any amounts unused for SEHI deduction flow automatically to Schedule A. The only thing missing is Medicare parts B and D, those are linked to Schedule C via the SSA-1099 input screen.
      "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
      "That's enough! When you didn't know what you were talking about, you really had something! [to Curly]" -Moe Howard

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