1099-ltc

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  • Gretel
    Senior Member
    • Jun 2005
    • 4008

    #1

    1099-ltc

    My t/p has received more reimbursement from his LTC insurances (spouse passed away) than they paid for nursing home. Amounts are reported in box 1. Per TTB amount reported is non-taxable income.

    I assume expenses paid for nursing home (skilled care) are NOT a deduction on Sch.A. This thought occurred to me since box 1 is a per diem reimbursement and doesn't reflect what was actually paid as expenses.
  • BP.
    Senior Member
    • Oct 2005
    • 1750

    #2
    Originally posted by Gabriele
    My t/p has received more reimbursement from his LTC insurances (spouse passed away) than they paid for nursing home. Amounts are reported in box 1. Per TTB amount reported is non-taxable income.
    I did not notice where in TTB it says the 1099-LTC Box 1 is NT. It very well may be NT, but use p. 2 of Form 8853 to report the per diem LTC payments received, and determine what, if any, would be taxable. Any premiums still being paid on the contract are Schedule A deduction based on age. (TTB 1-4 or 4-1)

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