1099-LTC: How to enter in Proseries?

Forum|Forum|3 years ago
March 20, 2023
3 replies
33 views

Hi all. I have a 1099-LTC for a client with about $30k in box 1. Box 3 is checked as reimbursed amount and box 4 is checked as qualified contract. So my understanding as I've researched it (I havent dealt with many LTCs) is it is all not taxable. The 8853 pg 2 says to enter amounts that were paid on a per diem basis. Nowhere can I see any place to list the amount if it is all reimbursed. Does it even need to be entered on the tax retrun if it is all reimbursed amount?

Thanks in advance for any help you can provide.

ProSeries Basic

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Best answer by Camp1040

Only enter if per diem checked. In other words, no entry required.

Camp1040Answer

Level 10

Only enter if per diem checked. In other words, no entry required.

Just-Lisa-Now-

Intuit Community Champion

when theyre marked Reimbursed, I dont enter them anywhere, I just make sure therye not double dipping on reported medical expenses on Sch A.

Thats how the instructions on the backside of the form I read 20 years ago told me to do it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

J

jeffmcpa2010

Level 10

Hey Lisa (and anyone else who wants to chime in)

(not in any way questing your comment - different situation)

Just wondering what your thoughts If it were a per diem contract, and after completing the form it is all non taxable, what do you think is correct so far as deducting medical expenses, I researched it quite a bit a couple of years ago for a family member and could not find any source that told me i could not deduct the medical if LTC was per diem. Never knew if I was missing something.(even though it did not seem logical)

Just-Lisa-Now-

Intuit Community Champion

If one washes out the other then I dont worry about it, per diem doesnt necessarily mean it was all used for medical though, so there cold be some taxable income left......but honestly, I dont think IRS cross matches these at all anyhow.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

D

dhoytAuthor

Level 4

Thanks all for the replies. I appreciate the help

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