1099-R Code W (for Long Term Care insurance)

[Greta]

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.

[qbteachmt]

You want to use a payout as a deduction?

[sjrcpa]

No. That would be double dipping.

[Greta]

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?

[sjrcpa · Accepted solution]

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.