This document discusses whether premiums paid for long-term care insurance (LTCI) can be deducted from taxes. It states that LTCI premiums may be deductible as a medical expense if the policy is qualified, total medical expenses exceed 10% of adjusted gross income, and premiums are within limits based on the policyholder's age. It provides the age and premium limits for qualified LTCI deductions in 2017.

1. Forest Securities
David M Apted
CIC-St Louis
4240 Duncan Ave
St. Louis, MO 63110
314-236-2811
314-236-2811
dapted@forestsecurities.net
Can I deduct premiums paid for long-term care insurance (LTCI)?
July 18, 2017
Page 1 of 3, see disclaimer on final page

2. Can I deduct premiums paid for long-term care insurance (LTCI)?
July 18, 2017
Answer:
It depends on several factors. Your LTCI contract must be a qualified one, you must itemize deductions on Schedule A of IRS
Form 1040, and the total of your medical expenses (including your LTCI deduction) must exceed 10 percent of your adjusted
gross income (AGI). Qualified LTCI premiums are deductible as medical expenses (subject to the 10 percent of AGI floor) within
certain limits, based on your age.
Note: Prior to 2013, the threshold to deduct medical expenses was 7.5 percent of adjusted gross income. The threshold remains
7.5 percent until 2017 for those age 65 or older.
If you bought your policy before January 1, 1997, and it met the requirements of the state in which it was issued, it is automatically
considered a qualified policy. LTCI contracts issued subsequently are only considered qualified for a tax deduction if they meet
certain federal standards. In 2017, qualified LTCI premiums are deductible as medical expenses (subject to the 10 percent of AGI
floor) within the following limits, based on your age at the end of the tax year:
Age: Limit on Deduction:
40 or less $410 (up from $390 in 2016)
41-50 $770 (up from $730 in 2016)
51-60 $1,530 (up from $1,460 in 2016)
61-70 $4,090 (up from $3,900 in 2016)
71 and older $5,110 (up from $4,870 in 2016)
For more information, consult a tax professional.
Page 2 of 3, see disclaimer on final page

3. Forest Securities
David M Apted
CIC-St Louis
4240 Duncan Ave
St. Louis, MO 63110
314-236-2811
314-236-2811
dapted@forestsecurities.net
July 18, 2017
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2017
IMPORTANT DISCLOSURES
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal
advice. The information presented here is not specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and
cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law.
Each taxpayer should seek independent advice from a tax professional based on his or her
individual circumstances.
These materials are provided for general information and educational purposes based upon publicly
available information from sources believed to be reliable—we cannot assure the accuracy or
completeness of these materials. The information in these materials may change at any time and
without notice.
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