Need help with 1099-ltc

Forum|Forum|3 years ago
March 7, 2023
4 replies
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I am doing my mother's taxes and I received a form in the mail that reads "1099-LTC INFORMATION RETURN".

Do I enter this into Turbo Tax anywhere? I can't find a reference to this specific wording anywhere.

Best answer by Anonymous_

See https://ttlc.intuit.com/turbotax-support/en-us/help-article/small-business-processes/enter-form-1099-ltc/L6LYP5zQ6_US_en_US

You'll receive Form 1099-LTC if you got money from long-term insurance or life insurance under an accelerated death benefits clause.

Here's how to enter your 1099-LTC into TurboTax:

Open (continue) your return if it's not already open.
Search for long-term care and select the Jump to link.
On the Any Long-Term Care Contracts? screen, answer Yes to the first question (and Yes to the second question if it applies, otherwise No) and select Continue.
Follow the instructions. If you need Form 1099-LTC we'll fill it out for you.

If you're using TurboTax Free Edition, this is not covered, so you'll be prompted to upgrade to Deluxe.

Anonymous_Answer

Employee

See https://ttlc.intuit.com/turbotax-support/en-us/help-article/small-business-processes/enter-form-1099-ltc/L6LYP5zQ6_US_en_US

You'll receive Form 1099-LTC if you got money from long-term insurance or life insurance under an accelerated death benefits clause.

Here's how to enter your 1099-LTC into TurboTax:

Open (continue) your return if it's not already open.
Search for long-term care and select the Jump to link.
On the Any Long-Term Care Contracts? screen, answer Yes to the first question (and Yes to the second question if it applies, otherwise No) and select Continue.
Follow the instructions. If you need Form 1099-LTC we'll fill it out for you.

If you're using TurboTax Free Edition, this is not covered, so you'll be prompted to upgrade to Deluxe.

VinnyfanAuthor

Thank you for your reply. I'm confused why my return has the words "INFORMATION RETURN" after the 1099-R. Does that mean anything?

And what does accelerated death benefit clause mean?

Anonymous_

Employee

Did you receive a 1099-R or a 1099-LTC (as you stated in your original post)?

Issuers can submit substitute forms (in the same format) and the information is for your use in preparing your income tax return. Also, if you received a 1099-LTC, the benefits could very well be tax-free.

Roystersb

Where is the JUMP TO link?

BrittanyS

Jump to links can be found using the search function. To find the link for a 1099-LTC, follow these steps:

Here's how to enter your 1099-LTC into TurboTax:

Open (continue) your return if it's not already open.
Search for long-term care and select the Jump to link.
On the Any Long-Term Care Contracts? screen, answer Yes to the first question (and Yes to the second question if it applies, otherwise No) and select Continue.
Follow the instructions. If you need Form 1099-LTC we'll fill it out for you.

@Roystersb

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Roystersb

Hello @BrittanyS -

I understand the directions, but there is no JUMP TO link. I search for 1099-LTC using the search (magnifying glass) icon. I get the same text, but there is no link ... the words JUMP TO in the text you quote are not a link.

I have the Deluxe version but I haven't yet paid the fee. Could this be why the LTC jump link isn't active?

Thanks, S