2012 Tax Deductible Limits For LTC Announced

The 2012 deductible limits under Section 213(d)(10) for eligible long-term care premiums includable in the term ‘medical care’ are as follows:

Attained Age Before Close of Taxable Year   

40 or less – $   350

More than 40 but not more than 50 – $   660

More than 50 but not more than 60 – $1,310

More than 60 but not more than 70 – $3,500

More than 70 – $4,370

The per-diem limitation under 7702B(d)(4) is $310.

For more information click here to access the page on our website.

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