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Elder Law

: Law Office of Donald D. Vanarelli Blog

IRS Releases 2009 Limits on Deductions for Qualified Long Term Care Insurance Premiums

By dvanar

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The Internal Revenue Service has announced the maximum tax deduction that can be taken on qualified Long Term Care Insurance premiums in 2009.

Maximum Deduction for Qualified LTCI Premiums Under Code 213(d)(10)

Attained Age Before Close of Year

2008

2009

40 or less

$310

$320

More than 40 but no more than 50

$580

$600

More than 50 but no more than 60

$1,150

$1,190

More than 60 but no more than 70

$3,080

$3,180

More than 70

$3,850

$3,980

Source: IRS Revenue Procedure 2007-66 (2008 limits) and 2008-66 (2009 limits)

Full post as published by Law Office of Donald D. Vanarelli Blog on November 05, 2008 (boomark / email).

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