Entering form 1099-LTC in Lacerte

To generate Form 8853 for Long-Term Care Insurance:

1. Go to Screen 32, HSA/MSA/LTC Contracts.
2. In the HSA/MSA panel, select L/T Care Insurance Contracts (8853).
3. If the policyholder isn't the taxpayer, select the Spouse is policyholder box or enter the First name, Last name and SSN of insured.
4. Select any checkboxes that are applicable to your client.
5. If you received the 1099-LTC box 1 on a per-diem or periodic basis, use the Gross LTC payments received on per-diem or periodic basis (code 107) field. 
6. Enter all applicable amounts, including the Portion of gross from qualified LTC insurance contracts (code 108).
7. Enter the amount from Box 2 in Accelerated death benefits received (except terminally ill) (code 109).
8. Enter total reimbursements received in Reimbursements Received for Qualified LTC Services (code 112) (Form 8853, page 2, line 24).
   • Box 3 shows if you paid the amount in box 1 or 2 on a per-diem basis or if it was a reimbursement of actual long-term care expenses. If the insured was terminally ill, this box may not be selected.
9. Complete all other necessary entries for Form 8853.