3
   

How long term care insurance deducted from your tax?

 
 
Sun 6 Nov, 2011 05:20 am
My friend said there's a tax deduction in long term care insurance policies, but he didnt explain how..Would like to know how it happens
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Question • Score: 3 • Views: 2,760 • Replies: 3
Topic Closed
No top replies

 
chai2
 
  1  
Sun 6 Nov, 2011 05:30 am
@cornwatermelon,
You would take it when you file your yearly taxes, if you itemize.
0 Replies
 
learner124
 
  0  
Thu 9 Feb, 2012 07:30 am
@cornwatermelon,
Insurance policy provides you tax benefit when you file tax returns. You can show the insurance document as investment proof. Thus you can save your tax.
0 Replies
 
ChintanJain
 
  1  
Mon 30 May, 2016 05:18 am
@cornwatermelon,
The premiums paid for long term investment policies are tax excepted when they exceed a certain percentage of the insured's adjusted gross income.
0 Replies
 
 

Related Topics

Taxes - Discussion by Buffalo
How will we pay for it all? - Question by FreeDuck
Filing Federal Taxes - Discussion by jcboy
Question about 1099’s - Question by GymBody
Tax the rich! - Discussion by H2O MAN
stimulus check and tax problem.. - Question by OGIONIK
 
  1. Forums
  2. » How long term care insurance deducted from your tax?
Copyright © 2020 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 01/24/2020 at 02:08:31