In this video I'm going to talk about taxation of long-term care insurance I work with individuals and business owners across the USA and do long-term care insurance digitally so I'm going to talk about individuals I'm going to kind of talk about business owners of all different types of setups so the first thing I want to talk about is individuals for long-term care insurance premiums first of all here are the ages you have to be you know these are the deductible amounts on your tax return based upon you know what age you are so if you're under 40 then you know you're looking at forty four twenty forty one to fifty seven eighty you know fifty one to sixty one thousand five sixty sixty one to seventy four thousand one sixty and of course seventy one over 5,200 so so you know those are your deductible amounts for being into individual now the thing about being an individual and not having a business is is you're probably not really going to ever see this deduction here you know that's not where a lot of people how people won't tell you that though to say oh what's tax deductible but well you probably won't benefit from this deduction just to tell you the truth the new the new standard deduction has raised up and because of that it makes it harder to itemize and also you have to idolize you have to have a significant amount of medical expenses and you know to be higher than 7.5 percent of your AGI so if you're an individual let's just say it's probably unlikely that you're going to to get this deduction now if you do have a considerable amount of deductions you know we're talking 20 30 $40,000...
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Are long term care benefits taxable 2023 Form: What You Should Know
Dec 18, 2023 — A partnership is required to meet the 100 percent tax on income of partners with capital gain realized from partnerships if the partnership has a partner for more than two years during the taxable year. Form 8949 (Form 949) (March 2018) A partnership is required to meet the 100 percent tax on income of partners with capital gain realized from partnerships if the partnership has a partner for more than five years during the taxable year. Form 1026 (Form 1036) (December 2018) A partnership is required to meet the 100 percent tax on income of partners with capital gain realized from partnerships if the partnership has a partner for more than two years during the taxable year. Forms 8949 (949 & 949-EZ), 1026, 1168, 1157, 1156, 1156-EZ, 1202, 1202-EZ, 1202-EZ-PF, 1203, 1234, 1235-EZ, 1235-EZ-PF and 1321 are required to be filed by April 4, 2019.
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