Form 1099-LTC - Accelerated Death Benefits

Forum|Forum|5 years ago
February 20, 2021
4 replies
38 views

Does anyone know where to input the above form in ProSeries Basic program?

ProSeries Basic

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Just-Lisa-Now-

Intuit Community Champion

The majority of 1099LTC forms I see and marked as reimbursed, so I just make sure the medical expenses were reporting on Sch A arent double dipping with the reimbursed LTC monies, I dont enter the actual 1099LTC anywhere.

(I remember reading the instructions on the backside of the form a couple decades ago and thats what it said to do and so Ive always done it that way)

If its marked Per Diem, then you may have some taxable income from it, since you didnt necessarily spend all the money sent per diem on medical expenses.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Y

yp87_2Author

Level 2

The 1099-LTC has no boxes checked at all. When I input the accelerated death benefits on the form 8853, all the amounts became taxable. Is it because of an incorrect reporting by the insurance company on the 1099?

yp

D

Donnie_B_Good

Level 3

Yes, Enter it on Form 8853, Page 2

Y

yp87_2Author

Level 2

Thank you.

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