It's not taxable. But I wonder if the amount can be used as a LTC medical deduction either for Sch A or in Virginia that offers a LTC deduction.
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But it's nontaxable income to the taxpayer. You can't get it on a tax free basis and then claim a deduction for it.
Sort of like health insurance paid pretax through payroll. You can't turn around and deduct the health insurance premiums.
No. That would be double dipping.
I thought that the insurance company is paying the premium instead of giving the customer the money. So isn't it the same as the customer paying it?
But it's nontaxable income to the taxpayer. You can't get it on a tax free basis and then claim a deduction for it.
Sort of like health insurance paid pretax through payroll. You can't turn around and deduct the health insurance premiums.
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