Level 15
11-02-2024
01:07 PM
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He can only deduct the eligible amount which is age dependent.
For 2023, the maximum amount of qualified long-term care premiums includible as medical expenses has increased. Qualified long-term care premiums up to the amounts shown below can be included as medical expenses on Schedule A (Form 1040), Itemized Deductions, or in calculating the self-employed health insurance deduction.
- Age 40 or under: $480
- Age 41 to 50: $890
- Age 51 to 60: $1,790
- Age 61 to 70: $4,770
- Age 71 and over: $5,960