In A Boomer’s Guide to Long-term Care I included a section on the deductibility of long-term care premiums.
The IRS limits the amount you can include in the deduction calculation based on your age. And it just increased the amounts for 2013 to:
- Age 40 and under – $360
- Age 41 to 50 - $680
- Age 51 to 60 - $1,360
- Age 61 to 70 - $3,640
- Age 71 or over - $4,550
Enjoy the rest of your weekend!
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