Helping Seniors & Families
Plan For Their Future
Feasterville, PA
215.396.1001
Doylestown, PA
215.345.5858

IRS Issues New Long-Term Care Deductibility Rules for 2019

Long-Term Care Deductibility Rules for 2019

The IRS has increased the amount of income taxpayers can deduct in 2019 if they’ve purchased long-term care insurance.

“Qualified” long-term care insurance premiums are tax deducible as long as they – along with other unreimbursed medical costs – do not exceed a certain amount of your adjusted gross income.

In the last two years, that amount was 7.5 percent of AGI, but the number has jumped to 10 percent in 2019.

Continue Reading IRS Issues New Long-Term Care Deductibility Rules for 2019