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Form 1099-LTC online Sparks Nevada: What You Should Know
The IRS Form 1099-LTC is a report of payments on an insurance contract that was entered into under the tax law. In order to be exempt from federal tax, you must pay your monthly premiums through the end of the calendar year in which you file your tax return. On the other hand, if you were not required to pay insurance premiums, then you would not be exempt from tax either. Because the IRS requires long- term care insurance for long-term care services, you must report these payments during the year you receive the Form 1099-LTC report.
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