Form 1099-LTC, Long-Term Care and Accelerated Death Benefits
What is Form 1099-LTC?
You'll receive a Form 1099-LTC (Long Term Care Contract Distributions) if you received taxable distributions from your:
- Long-term insurance, or
- Life insurance under an accelerated death benefits clause because you're critically or terminally ill.
Long-Term Care Contracts are arrangements designed to provide insurance that will meet your health care needs, should you become chronically ill or disabled after reaching a certain age.
Entering Form 1099-LTC into TurboTax
Don't worry! If you had any distributions from a long term care account, we will ask you the right questions and walk you through the process step-by-step. We will then enter the information on the correct form and perform all the calculations for you.
If you've already gone through the step-by-step interview and want to jump directly to the entry screen for this topic, follow these directions.
- Select the Federal Taxes tab (the Personal tab in the Home & Business edition).
- Select the Wages & Income subtab.
- Scroll down the Wages & Income screen until you see the Less Common Income group.
- Click on the Start/Update button to the right of the Miscellaneous Income, 1099-A, 1099-C category.
- On the Miscellaneous Income scree, click on the Start/Update button to the right of the Long Term Care Account Distribution (Form 1099-LTC) category.
- Follow the prompts.
What if I received two or more 1099-LTCs?
When you have more than one 1099-LTC, you will need to enter the total distribution amount into TurboTax, rather than entering each form individually.
If you have yet to receive your 1099-LTC, please click here to explore your options.
If you need to correct or change any information you have entered from your 1099-LTC, the steps you take depends on if you have already filed your tax return.
- If you have yet to file your return, simply follow the navigation instructions above, and correct or change your information.
- If you have already filed your return, you will need to amend your return. Please click here for instructions.
For questions about printing, please click here.
If you have questions about the availability of form 1099-LTC, please click here.