I take a tax deduction for my long term care policy?
Published 09/28/2009 01:53 PM | Updated 09/28/2009 01:53 PMI take a tax deduction for my long term care policy?
Yes. You can take a portion of the premium paid as a deduction for a tax qualified long term care policy on your Federal form. In addition, if you have a Partnership LTC policy, you can take the premium paid as a deduction on your state form using Form IT-40, Schedule A, under other deductions, Code 608. For more information, please visit the Indiana LTC Partnership Program Website at www.longtermcareinsurance.in.gov
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