Question

1099-R for Long-term Care

Forum|Forum|5 years ago
March 16, 2021
1 reply
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I received a 1099-R from my insurance company where cash value was used to purchase qualified long-term care. Should this form be reported in TurboTax?

T

ToddL99

Yes, report the 1099-R on your tax return - some portion of the payment was likely to be taxable and must be reported.

If you purchased qualified long-term car insurance and are itemizing deductions, you may be able to claim a medical expense deduction for the cost of that insurance (there are limitations on this deduction).

See Are premiums for long-term care insurance deductible for 2020? and Where do I enter my long-term care premiums? for details on how to enter this in TurboTax.

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