2021 Tax Deductions for Long-Term Care Premiums Released
2021 Long Term Care Insurance Federal Tax Deductible Limits
| Taxpayer’s Age At End of Tax Year – Deductible Limit | ||
| 40 or less | $ 450 | |
| More than 40 but not more than 50 | $ 850 | |
| More than 50 but not more than 60 | $1,690 | |
| More than 60 but not more than 70 | $4,520 | |
| More than 70 | $5,640 | |
The Qualified Long-Term Care Insurance Contract or Life Insurance Contract Per Diem Limitation dollar limit on the benefits will increase to $400 per day, from $380 per day.
Source: IRS Revenue Procedure: 2020-45
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