New 2020 Tax Deductible Limits for LTCi Just Announced
Increased tax deductible limits can be a significant benefit for those with tax-qualified long-term care insurance policies, according to the American Association for Long-Term Care Insurance.
The following are the just-announced 2020 limits (2019 in brackets):
|Attained Age Before Close of Taxable Year||2020 Limit (2019)|
|40 or less||$430 ($420)|
|More than 40 but not more than 50||$810 ($790)|
|More than 50 but not more than 60||$1,630 ($1,580)|
|More than 60 but not more than 70||$4,350 ($4,220)|
|More than 70||$5,430 ($5,270)|
Questions? Call the GoldenCare Marketing Team at 800-842-7799!
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