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revacyrus
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What Are the Benefits of Long Term Care Insurance?
revacyrus replied to tessflores's topic in General Discussion
An individual may be able to deduct part of the premiums for a long term care insurance policy and benefits paid out will generally not be taxable as income. List on Form 8853. Benefits paid to you under a non tax-qualified long term care plan may be considered taxable income. Buying a non tax-qualified plan could increase your tax liability and reduce the value of the benefits.