Get Answers To Your Tax Questions
H&R Block Tax Professionals relentlessly focus on making sure you profit from every deduction and credit available.
Finding answers to your tax questions is now less taxing.
Do I have to report my Form 1099-LTC income?
Yes. Long-term care insurance can be taxable. It's reported on Form 1099-LTC. You must report this income on Form 8853 to see if any of it is taxable. If so, you'll report the taxable part as other income.
The payments are fully taxable if the long-term care insurance payments weren't both of these:
Qualified long-term care services must be:
A chronically ill person is someone who has been certified by a licensed health care practitioner within the last 12 months as one of these: