Can You Deduct Long Term Care Insurance Premiums?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Yes, Long Term Care premiums can be deducted under schedule A (itemized deductions) of your form 1040. If you add your Long Term Care premiums to your other health insurance premiums, co-pays and out of pocket expenses, you can deduct the amount that exceeds 7.5% of your adjusted gross income (AGI).
    Answered on June 24, 2013
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