I have a client who received form 1099-LTC from a long term care insurance policy he owns. In the TB on page 4-7 it talks a little about the form but it doesn't mentioned if it needs to be reported on the 1040. Is the 1099 - LTC a reportable item on the 1040, if so where does it get reported? Thanks
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Yes
It should be reported on form 8853, generally page 2. Look at that form, and then you will have to quiz your client about the specifics of the policy, the payment, etc, to determine if there is any taxable portion of it. I have done several each year, and have never had any taxable income as a result, although obviously there can be taxable situations or there would not be a need for the form.
Gerald
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