“IRS Issues Long-Term Care Premium Deductibility Limits for 2018,” ElderLawAnswers

“The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2018 income as a result of buying long-term care insurance.”

 

Attained Age Before Close of Taxable Year	2018 Deductible Limits
40 or less	$420
More than 40 but not more than 50	$780
More than 50 but not more than 60	$1,560
More than 60 but not more than 70	$4,160
More than 70	$5,200

 

LTC Comment (from Damon V. Moses, Administrative Coordinator, Center for Long-Term Care Reform):

We’ve updated these numbers in our Members-Only Zone here, where you will also find tax deductibility limits for each year back to 1997. If you need your user name and password contact Damon at 206-283-7036 or damon@centerltc.com.

IRS Issues Long-Term Care Premium Deductibility Limits for 2018

#irs
#long-term
#goldencareagent