“Kitces: When and how to deduct long-term care insurance”

“Kitces: When and how to deduct long-term care insurance,” by Michael Kitces, Financial Planning

“With the 1996 introduction of tax-qualified long-term care insurance under the Health Insurance Portability and Accountability Act and IRC Section 7702B, Congress affirmed that long-term care insurance benefits should be tax-free. Tax benefits for purchased long-term care insurance coverage followed. However, the evolving landscape of both individual tax deductions and long-term care insurance tax preferences have created myriad options for filers, all of them confusing. What follows is a run-through of the choices, benefits — and indeed, drawbacks — of each.”

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

Handy information regarding LTCi tax treatments.

Kitces: When and how to deduct long-term care insurance