Tax Deductibility of Individual Long Term Care Insurance Premiums
Premium payments for a tax-qualified long-term care insurance policy are deductible as personal medical expenses for those taxpayers who itemize their deductions.
Age Per-Individual
40 Or Under - $260
41-50 - $470
51-60 - $940
61-70 - $2,510
Over 70 - $3,130
IRS Maximum Federal Income Tax Deductible Amounts for 2004.
Amounts indexed annually for inflation.
Deductions can be taken for individuals, their […]
