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) |
Click here for the entire announcement (AALTCI)
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